Probability of break out in the next 4 hours: 55.6%
What's with everyone calling for a breakout right now? We just met the 3 month downtrend a couple days ago, and it takes a couple weeks to break out of a 3 month downtrend. It would make no sense on the chart if it just went up right now without any consolidation.
Mostly it is due to the Gox problem finally coming to its logical conclusion. People feel that the storm has passed and the weight has been dropped. Whether this means there WILL be a breakout is, obviously, yet to be determined, but this is why people are feeling that way.