Breaking out yet again

After a brief diversion into silver I’m back to bitcoins, which at this time is a much more exciting market, for me at least.

I’ll just stick with my ‘take off’ channel for now which I’ve updated here.

Heres a view showing the whole ‘take off’ of bitcoins in 2013 from around $13 at New Year to about $266 in April and sitting now at about $232. I was just about to talk about how I expect some resistance at the red dotted line which joins the all time high with the October high but before I could even write it, it looks like price is breaking out past that resistance. This is too soon! I’m trying to release some funds to buy more bitcoins. Can’t it wait until I’ve accumulated more!

Anyway, it might turn out that this resistance isnt’ quite broken yet, in which case, hopefully it’ll fall just in time for my planned purchase. Looks to me like new all time highs won’t be far away, good time to go long bitcoins I’d say.

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