this thread is going to cost a lot of people a lot of bitcoin...
there's nothing to indicate a reversal is coming...
I did a quick analysis earlier today, comparing the late May situation (that ended in the month long downtrend) to now. Using the indicators and tools that I usually find reliable, I can't see a fundamental difference between now and then.
Which doesn't mean that we're heading for a reversal, just that, with one difference(*) perhaps, May and August look similar, and the former situation saw to a drastic, rather unexpected, reversal.
(*) the one difference I can see and that I would say is perhaps relevant is the duration of the uptrend until the reversal: when price started to fall in May, we only had a two week run-up behind us. Today, we're in a solid uptrend for almost two months.
To my experience, I would not expect to see the longer sustained uptrend that adamstgBit seems to be expecting unless it starts out much slower, for much longer.
Yes, I am expecting the current trend to continue to 180 and maybe even to a new ATH.
The news surrounding bitcoin is unprecedented, and the fact that most speculators are not speculating on these new developments, and instead pretending that everyone will suddenly lose confidence and sell it down to new lows, is kinda weird...
I understand that 2011's bubble deflated much futured down, but thats because everyone lost confidence and sold, this is clearly not going to happen today, the only thing that can save you bears is if some retarded whale starts dumping coins in a panic as another country declares bitcoin legal tender.