PW
Long

BTC Logarithmic Chart - Channel

PW  
MTGOX:BTCUSD   Bitcoin / U.S. Dollar
181 1 0
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.

In my view BTC is going to $1000 before Christmas.
The channel seemed to publish incorrectly - clearly it is meant to be lower. Apologies I can't seem to change this.
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