Heres a 3 month chart plotted on log scale.
![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fafbitcoins.files.wordpress.com%2F2013%2F03%2F20130315-3-month-log-chart.png%3Fw%3D710&t=665&c=0D5dg5cVa-oacw)
The charge towards $50 caused the price to bust out the top of the channel but the resistance we’ve encountered there since then has pushed us back down back into the channel again. The very bottom of the channel has been tested twice with brief spikes down which rebounded very strongly and very bullishly.
I feel that this resistance near $50 will hold perhaps as long as to the end of March but ultimately be breached and much higher prices are on the way. During the rest of this month, the price may fall down near the bottom of the channel again, currently near $40 but the relentless upwards pressure will soon have us above $50 anyway.