What followed after the "bottom" as some say was a rally up to approx. 385 USD where the market started consolidation in the form of a descending triangle. After that we got another rally to approx. 412 USD. Now we're seeing consolidation again and I expect the next rally to hit at least 430-440 USD. We can clearly see that previous resistance levels have become support and that it's currently holding. This will probably result in a Bollinger squeeze with a breakout soon.
For those saying that we just had a double top and that we have now reversed, I could say that we just had a double bottom and we have just reversed again... But if you look at the price movement and the volume, I'd say we're in a accumulation pattern right now, this is not a down trend.
For those saying that we just had a double top and that we have now reversed, I could say that we just had a double bottom and we have just reversed again... But if you look at the price movement and the volume, I'd say we're in a accumulation pattern right now, this is not a down trend.