I suspect that there may be 1 weak push up between now and 10/5, taking us no higher than 146. But in any case, by 10/7 it should be clear that the a correction is at hand.
My suggestion is to keep your powder dry, because this will likely be the last move down of the 2013 market (an E wave). You will want to be able to buy at or near the low shortly before Christmas, because 2014 will likely be a great year for bulls...
2-Bitcoin chart analysis should be done on a logarithmic scale for better results.
3-If you don't understand crowds psychology, here is how you should read what happened: BTCUSD went on a huge rally from july to september with almost no pullback for people to buy in and was trying to break through resistance, Silk Road was in the top3 worst news for bitcoin (top1 is protocol hack, very low probability, top2 is government crackdown) yet it could not even manage to end the day under the last support level of the rally. This is a classic shakeout. Now people who sold in panic have to buy back, this will be mitigated somewhat by people who bought during the crash for a trade who will soon sell for profit if not done already. However all weak hands are out and people who were waiting (without orders in the books) for weeks for a pullback to buy will now have to buy very soon if prices can't go lower. => Upside breakthrough in the coming weeks.
In the meantime, regardless of what you think of my trading philosophy, I foretold a significant sell-off 12 hours before it began. That is documented here for all to see. Please direct me to where you made a similar forecast, in the last 24 hours or so. If you cannot do that, then please accept there is a possibility, however slim, that you do not yet know everything. Thank you.
A monkey can trace 2 parallel lines on a chart by connecting dots and guess that breakthrough OR pullback will happen there. Doesn't make it a trader ;)
Looking at the daily chart a few days after 10/5, it increasingly seems that the pivotal day I expected on 10/5, actually came a day or two early, AND WAS A LOW on 10/3.
Therefor I feel it is time to eat some crow and suggest that this forecast appears to have been wrong. In fact, it is starting to look like the next leg up is about to begin...