Things have been super busy in my day job, and didn’t have an internet connection last night, so been taking me a while to get this post out which has been frustrating.
Things are going crazy, its hard to keep up. I think we’ve broken $200 US now!!!!
Anyway, I noticed quite a while ago what looked like a resistance level somewhere near $200 ish.. Here it is again on the ‘all data’ log chart.
Very hard to judge on these log scales what prices are but as you can see the green increasing price is at this very moment approaching the same trend line which produced resistance twice during the 2011 mania. At that time prices where around $10, here we are on the same trend with prices over $200.Quite an amazing trend don’t you think?
I’m expecting quite a big correction soon when we reach that level. Will it even be the top? Personally I’m guessing it won’t be, but who knows?