MTGOX:BTCUSD Bitcoin / U.S. Dollar
This is a a Square I use to help understand long-term dynamics of the market. I think it shows a full recovery since the bubble of April. Right now if we can manage to stay above the previous high of 135 we will be testing the blue Fib Arch soon. This will probably be in around 145.
Update (9/11/13) - if you look at the recent candles we passed right through the 4th arch and 3rd lines and continue to push up against the 5th arch. We are still staying on a similar trajectory but for how long? Do we have the momentum to push through the 5th? If the activity of the past few days is any indicator I think we might be in the 150 -160 range within the next 24-49 hours.