Nothing really has changed in the time since my last post its just more of the same. I still like the idea that bitcoin has already seen the bottom (and those waiting for sub $100 will never get their chance). Maybe I will turn out to be wrong but as things look to me ‘the end of the bear trend’ still looks like it might be playing out.
Heres btc-e with 1 day candles on log price scale
Bitcoin in US$ is rising gently as it has for roughly the last month. Although no big jump yet to test major resistance lines. First the red dashed line will need to be breached then the big upper red line which is very clear line on the chart.
Heres a zoomed out view of same chart, because I think it looks pretty. edit: Rocket ship is a tad optimistic I admit.
And because I’m bored at the moment heres another chart, I’ve found an interesting looking fit between bitcoin using ‘all time’ data from mtGox and btc-e. Bitcoin seems to fit very neat onto an arc. But what is this telling us ? Well I don’t know, maybe nothing? I’d like to see bitcoin start lifting away from that soon though.