TheSleepyTrader
Long

Bitcoin - $200 by December

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
373 1 1
A very speculative chart given the lack of historical data, but the lines do seem to match up.

We've gone bullish now with the EMA crossover (see last chart). If you look at the two channels drawn, sorry annotations aren't great, from the low in Jan and July (after the last rise) then you can see there are clear crossover points at the lines of support/resistance that appear to be forming.

My targets are $170-175 by start of October and then possibly $200 at December. This would require us to get through a line of resistance that I think will appear about $180.00.

If we break $150 then next resistance about $165 followed by $180. We could see a very sharp spike to $266, but that rise blasted through $150 where we are seeing resistance this time so I don't think this will happen. I suspect a fast, but gentler rise.
It's sort of funny to look back on this 3 months later. Bitcoinland can be crazy. Now the question is, will we even get back down to the high prediction here. I'm guessing not.
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