New Highs

New highs!!! At least on MtGox in US$ the price has set a new high, haven’t looked at other markets yet. Heres how it looks on MtGox

new high in bitcoins

I wonder if there’ll be a retracement so we get the handle of a cup n handle formation? This being bitcoins it might skip that and just go on a rampage up another $100 bucks. I don’t see any possibility of another huge correction / collapse like the last time bitcoins were valued this high, theres a much bigger base for the price now, and the market is not so dependent on MtGox infrastructure as it used to be. Not to say the price can’t fall of course.

Heres a revisited version of my steep up trending channel chart. I’ve added a cloned trendline above, but its a complete guess where best place for it is.

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