If you’re not bullish after looking at this chart then I don’t know what could convince you. What you are looking at is all the bitcoin data for mt gox in US $ displayed in a log scale.
What instantly leaps out, at least to me, is that the upwards trending price channel goes back a lot further than you’d think, to well before the 2011 bubble. From the look of the channel we are in, we could fall back to support somewhere like $16, which would be quite a retracement but still within our longer scale channel. Equally and perhaps more likely there is no real resistance that I can see until we hit $50. Even then we may not get a steep correction down, like the previous time that trendline was hit which was when the price was about $8.
If the price was to take off as it did in 2011 and spike up to the same trendline what was $32 back then is more than $500 today. Quite a thought. I’m thinking it might be time to load up on bitcoins while they’re cheap!