Sure enough, it didn't happen. It fell short, peaking at just under $11,700, then rapidly crashing back down to where the $10,000 support line met the top of the , which gave BTC a day to think about what it wanted to do, before deciding to crash further, breaking through the $9000 support before bouncing off the $8300 support, twice, for good measure. Looking like the $8300 support was staying strong, it tested the top of the again, hit that resistance and fell back down towards the $8300 level again, but stopped higher than the last double bounce, setting up a clear line of ascending resistance. The bottom of the new .
Having established the new bottom, it smashed back up through the $9000 resistence and the top of the , rebounded from the $10k resistance back down through the bear and $9k again to just above the resistance once more, before rebounding back up through $9k and , clearly showing us that the is no longer relevant at all.
From here I do not expect us to go below the bull support line. Of course I am not certain about this, and can't help but constantly worry that someone will want to push the market back down to the $6,000 bottom again, just to make sure, but I am inclined to think that this new bottom line is quickly becoming very well established as the real bottom. There is just too much good news now, too much interest in crypto and BTC , and most of all of the FUD has already run its course (for a little while at least). MtGox can't dump any more coins until September at least, and will probably never dump them on the markets again anyway.
I don't think we're going straight to the moon, but I do think we will keep bouncing between these lines of resistance testing higher highs and higher lows for at least a few weeks to come before some major break out takes us to higher ground and then the next "crash" brings us back down to levels well above $10k.
So I guess I am in the short term, the medium term and the long term from here.
Though, if we break the line, then I will need to reconsider ;)
3 out of 3 ain't bad!