This is what I’ve just been looking at, which is honestly making me feel bullish to the point where I’ve bought back in some more bitcoin. Is a bit of a gamble as the case for a collapse is persuasive but I like the look of this as a potential up channel.
Here is on MtGox with 4 hour candles.
If this channel holds we should soon see a rally from the bottom line taking us up through $1000. Guess we’ll soon see..
edit: However we’re still under what will probably be tough resistance to break through (as commented, thanks Artiti).
Note the blue line has been repositioned slightly compared to my other charts after that move which looked like a break downwards.
Red line shows strong resistance. Maybe further resistance below that, check out Artiti’s post in the comments for details.