This is the view I’ve been focusing on lately, the one month log chart which shows a down trend originating from the price peak in early April.
Personally I see no reason yet to think these trendlines are invalid. Unless the price manages to move above $130 (which I doubt will happen) then I think the downtrend is still dominant.
By the looks of it we are quite near the top of the range just now, I expect price will touch resistance and then another decline. We could see prices go as low as $70 or even $60 by the time we get there.
Perhaps this is a time to sell bitcoins expecting to buy back cheaper later.
Incidentally I’ve been a bit distracted recently and didn’t find out the cause of the forums being down, however they are back to normal now as far as I know.