When will price break up past $50 ?

[afbitcoins]

Heres a 3 month chart plotted on log scale.



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.

[klee]

Heres a 3 month chart plotted on log scale.



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.

This!

[BIGMERVE]

should have made this a poll

[afbitcoins]

should have made this a poll

Good idea

Have added a poll now. Although my initial post nails my colors to the mast.

[afbitcoins]

I voted within the week btw 

[zoinky]

Probably after we see 30.

[Nesetalis]

I'm kinda scared that this is the new "normal" o.o
we've been hovering around 40-50 for so long now and no matter what (spike or plummet) it just recovers...
SOME ONE HOLD ME, THIS UPSETS MY VIEW OF THE WORLD.
ahem... I mean.. I figure we will spike to 50 some time this year, who knows when, i don't think it will stay there though.

[BIGMERVE]

I'm kinda scared that this is the new "normal" o.o
we've been hovering around 40-50 for so long now and no matter what (spike or plummet) it just recovers...
SOME ONE HOLD ME, THIS UPSETS MY VIEW OF THE WORLD.
ahem... I mean.. I figure we will spike to 50 some time this year, who knows when, i don't think it will stay there though.

We have not been hovering around here for "so long". It only went over 30 two weeks ago.

And why would you be scared if this is the "new normal"? Personally I'd be happy if we don't have to worry about crashing under 30.

[afbitcoins]

Personally I doubt very much this is a new normal. The bitcoin economy is probably too small to have a stable price for any length of time, which is part of what makes it great for speculating I suppose.

I've locked the poll now, nearly made 100 voters, which is pretty cool I reckon. Since the first option was to break price within 24 hours, and 24 hours have now elapsed then doesn't seem to be much validity leaving it open.

There were no takers for the price to break within 24 hours, correctly as it transpires. The most popular option was before the end of March, which very much agrees with my own thoughts based on Technical Analysis. Will be interesting as always to see how it develops.

Thanks for all the votes.

[afbitcoins]

We have broken 50!!! The correct answer as predicted by quite a few on the poll and myself too was within 1 week. Feel like I'm on a roll.