Looks like the attempt to pass the 3 year high on BitStamp of $1139 was a bit too soon as today's run up was already on its final legs by the time it reached $1130.
Though if cup and handle charts work out, it looks like if we pass that price in the next few days we will be seeing a quick spike in the price.
Though if cup and handle charts work out, it looks like if we pass that price in the next few days we will be seeing a quick spike in the price.
I pulled a few of my sell orders (even though they are not very big) in the mid-to-upper $1100s because of the considerable likelihood of price dynamics playing out like you said (and seeming pretty imminent).
Accordingly, once we get past $1139 resistance, we are likely to overshoot upwards.. and it would be difficult to project any meaningful correction occurring until sometime after $1200, and possibly even approaching the upper $1200s as the earliest realistic point of some kid of meaningful correction...