Anyone who sold < $60 does not know how to read accumulation distribution.
Please elaborate.
Note, that as the two hour candles are declining in value the accumulation distribution actually rises. This means that volume is generally higher on candles with a high close location value, and the volume is generally lower on candles with a low close location value, eventually tipping the balance back to a positive money flow. And for a longer term indication that USD continues to flow into the exchange the 21 candle Chaikin money flow managed to stay in positive territory the entire time.
This is enough to tell me to hold on. A shorter time scale might have led someone to a different conclusion, but I think that can be a dangerous way to try and gather information while on a parabolic slope. I would have to find evidence of a concerted and sustained reversal of money flow before selling. Believe me, I have been looking for it, and I have not found such evidence, so I have been holding on.
While this rally may superficially appear to be similar to events of 2011 the devil is in the details. Comparing the details of money flow is enough to convince me that this rally is much more decisive, with less fear than was involved with the 2011 run up. There is a lot of confidence that new money is coming into the market.
Good post, will make a note to find out more about these money flow indicators.
I like it, and we will have conclusive evidence soon, Gox is preparing a financial report.
