HelloWound

Spotting the very top

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
259 0 1
Before the top there will be a fake out, then it will push a little higher. That is the top. It will usually be a bit before a strong resistance, like 400. This is only one type of top. Another type is where it starts accelerating faster and faster until at the top it starts to behave sluggish and out of steam like the fall before this one.

The bullish tops happen after a significant push and it recovers far too quickly and gets a slightly higher high but must correct and slow down.

The fake out is where everything looks like it's about to fall. Many sell here and then buy back after they see it bounce. This contributes to the final push.

There's also the J like part at the very top (the opposite is true with bottoms) where it gets a high, then instead of correcting it slowly pushes even higher to the very top.
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