I’ve started a thread of this theme in the bitcoin forums and thought might aswell make it a post too.
The bears have had all the fun in the last year but is the end in sight ? At the moment market is awash with pessimism and negativity. Could be the perfect time for a bottom to confound investors.
Heres BTC-E with a log price scale.
If bitcoin rallies up to the top of the bullish channel (marked in purple lines) it will be finally pushing free from the bubble collapse.
There will be some tough resistance to get past on upper red line but I think theres a good chance we will, possibly after being wedged under it for a while first.