PW

BTC Log Chart Channel v03

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MTGOX:BTCUSD   Bitcoin / Dollar
237 1 1
In my view BTC             is going to $1000 before Christmas. The channel seems to suggest two outcomes:

(1) The current run may continue to $1000 before a correction

(2) Resistance at $500 - correction around this price level

BTC             is heavily news driven and next weeks Senate hearings may be the deciding factor here. It may also serve to legitimize it in the eyes of the public (to some degree). Equally the US government may come out strongly against it.
Again chart is rendering incorrectly. Apologies.
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