Heres some updates to my charts, starting with MtGox bear fork on a chart with 4 hour candles
The strong rally during the last week moved the price up near the top trendline but there was no strength in the challenge to push through it. Looks like the fork is well established with trendlines providing resistance where you would expect it.
I have modified my chinese fork since the last post to a new updated one which has a better fit, so heres how the updated chinese fork looks, also with 4 hour candles.
There are similarities and differences between the chinese bear fork and the MtGox USD fork, both now using same points to define the fork. Chinese fork tested the bottom trendline last week whereas USD MtGox just made it below the half way trendline in the fork. However both are currently sitting roughly half way up the top half of their forks.
You might remember my double top predicition from a while ago, although there was a dead cat bounce the target has eventually been met, more or less, it looked like this.
There was a very brief spike down to my target area but I doubt this means the bear trend is over.
I think prices can easily return to $300 region or perhaps below that in this bear correction but have run out of time to show why I think that in this post. That is not trading advice.