I think we are seeing the shorter providing support - The yellow line is the current line of resistance I'm seeing as the market moves up. If we break that I estimate we'll then see the pink line forming the next resistance with the yellow forming on-going support.
The market seems to be moving in tandem with Gold and Silver , both of which I am also long on and will publish the charts.
$70 is the very bottom of the current prices - That is expected to form repeated support, although I suspect we will see some consolidation around the $150 - 160 mark unless world events move on.
Depending on what happens in Syria we could see another large, sudden jump in the BTC price taking us over the yellow line.
For reference I've been in Bitcoins since they were about $10 per coin, most recently I bought some more at $85 and I also have a mining operation so I do have a vested interest in the price of BTC.