Good Morning Bitcoiners,

Last month the price manage to build a candle stick with long tales and a relatively small body that indicates the uncertainty towards how further the price could go after reaching new historical highs $1242.00.

Because the over extended trend in the last two months, it's possible that the price continues with the side ways trend for a while and that will could help the price in building new supports and new higher low's in daily and 240 minutes chart. This particular behavior can help the price to reach the historical highs in few weeks time.

The weekly chart is showing a higher low that it's active since $837.00 and it can keep going up towards a first point of reaction $925.00 and if the buyers power and the volume keeps the same momentum such pattern can keep the penetration towards $1068.00. If this hypothesis gets confirmed by the uptrend there is a possibility that such pattern will $1242.00.

The 3 day chart is showing an over extended trend by candles sticks only and it can keep it's bullish momentum towards $1068.00 and if that happens the over extended trend won't give entries in daily and the 240 minutes chart will be the new possibility.

And last but not least, the daily chart shows a similar condition as the 3 day chart. The daily chart will keep trying with the penetration towards $990.00 and that will show a possible over extended trend during the next couple of sessions.

Volume will have a big role in this hypothesis during the course of the month and if the volume keeps coming, the price could have a chance to reach the targets we mentioned sooner than later.

Here is the monthly analysis.

http://youtu.be/HNM2pLiIavA

Now which one is true?

Interjekcion, it doesn't matter if Zynga is rubbish or not, what matters is this: http://www.nasdaq.com/symbol/znga

This is a disgrace. Marijuana was illegal for a reason you blind idiots. So many people are going to die from overdoses of heroin, and crystal meth. It's a well reported FACT that marijuana is a gateway drug. I fear the worst for America at this point. It's very possible that this will spread and become a pandemic infecting everyone in the U.S. I can picture it now, over 75% of the population addicted to crystal meth. What was colorado thinking? Not to mention all the high drivers destroying cities. My head is spinning.

It's so sad because we were very close to winning the war on drugs, it's public enemy #1. Think about it... If it went on for a few more years, we might just beat the bastards. There was a lot of money funded into the drug war, rightfully taken out of our taxes. (that's the duty of every free American). The pot users( TERRORISTS, CRIMINALS) are going to ruin this country.

I fear i must renounce my citizenship and move to cyprus. They have some proactive ideas. Freedom comes at a hefty cost these days. One Cypriots are willing to pay. I won't stay here and watch the downfall of what was once a beautiful country. It truly sickens me to see a country go this low...do you guys remeber the dark ages? a priority wasn't placed on drugs then...look what happened, nothing no progress. When drugs became illegal and privatized everything took a turn for the better.



All the money generated and no taxes? Get real people.

Unless it's going to backfire to all the people caught up in the exuberance and charging them with tax evasion on untaxable income...sounds reasonable sadly

I hope that's the case.  Let's just say when it comes to the IRS, I make very few assumptions :p