The strong price action, leads me to think, we'll see 134 soon.   

Let's not forget that a major bubble popped less than 30 days ago. It took one year for the price to return to $30 after the 2011 bubble. For me the only thing holding us back from the strong downward pressure from the last crash is the Chinese news. People have been squabbling over what this news means in the short-range. What are the implications of this for the months to come? This is MAJOR progress for bitcoin. The Chinese government is most certainly backing bitcoin as we have had multiple media leaks endorsing it. It cannot be an isolated event.

The investors will probably be pretty bad until the bad ones lose capital. Therefore I expect a lot of volatility in the coming weeks.

https://i.imgur.com/0gqLspo.png

We're actually riding this upper wall. I believe the reason we have not crashed (and appear to be rallying) after we smashed the 120 wall and wallzilla jumped ship is because the market is deciding how it is going to react to the China news. The market WILL react to this positively, it is simply too big to ignore. I see a steady rise upwards that gets refueled on Tuesday when the new money is released (the new investors will be happy to jump on the upswing, and actually, this is quite good IMO. This will act as a catching net and widen the base of initial investors from China. Only good things ahead for BTC  

Pump or not the price is going up at least for the near-term (that being the pump phase).

Buy the rumour, sell the news. They (CCP) are now loaded, and may be ready to cash out short term. Long term china will be a major playa.

Yes, it will go back sub-100 briefly, goat is right.

When do you see this happening? I would think the influx of investors on Tuesday would necessitate it happening before then.

Why would a bunch of new money on Tuesday cause the price to go sub-$100?

i don't put much stock in it. the standing orders have less and less of an influence on the market the further you get from the current price point, because bluffing is low cost without the risk of your 'fake' wall being filled.

also, i try to determine points of resistance from direct price history analysis rather than walls in the order book. from my experience, there is usually a wall at a 'real' support/resistance, but the relationship isn't two-ways. just because there is a wall, doesn't mean it is a real support/resistance.

basically, i ignore it for the most part. reading the tide-like ebb and flow of the spread near the price point is minimally useful for anticipating micro-term movements, but beyond that it isn't good data for analysis, in my experience.

You may be right regarding the last crash and the time it may take to "recover" from the latest. But, as you said what about the Chinese? And a very big factor to consider is our outstanding supply of 11 million (probably a bit less than that). We are moving forward at a pace that is not linear, maybe not exponential, but quadratic or somewhere like that.

Due to the low float and the world situation, to use the past as a predictor of the future, especially when talking about anti-fragile technology, is dangerous. It can bite us quick like.

y = ax² + bx + c
 

Did you really mean that, or was it rather double exponential?

Hmm..

I must practice my triangle-fu, I still don't see it.