I don't understand your sentiment. Yes, we had a correction after irrational bullishness. Is the longer term trend broken? Not yet, as I see it. I think of the last 2 weeks as the inverse of the dips we've seen on the way down during july - november.
Already after $5.5 I was expecting a period of correction to kick in but then it went even higher. So no surprise that this happened. I just regret not selling a bit while it was at $7.2 anyway.
You are aware that a trend is nothing but a line that happens to be on some chart? If you valued Bitcoin below 5.5 USD weeks ago, what changes your sentiment this much in such a short time?
@Technomage: I see the problem exactly in the fact that a possibly over-the-top bullishness is still there, which unlocks BTC sell-offs when it ends, and the fact that everybody is hyping short-time events that are supposed to bring in speculators ASAP, or something. And post stuff about trend-lines, best on logscale again. It's bound to over-shoot, and now would be a befitting time for a reversal due to the current chaos. (And simply because I think activity is kind of low compared to the volume*price rise we're facing these times)