What happened: The break-out try begining of march can be booked as failed (X). Retest of the lower trendline seems to be ongoing (A).
What I expect: ...is a successful retest (A) with a more or less direct reaction (B). This should directly pierce through the upper line of the wedge back towards higher grounds (Target: 10k to 12k).
Now...: Let's assume this happens (and it happens quite fast) then one possibility would be a walk through in direction of it's ATH_ (B').
But for now we'll first wait to see if we get the retest (A)...
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Not yet calling it off. But there is quite a volume increase combined with rising price. This might pick up and we might see some jump up this weekend. Let's see...
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A has not really been reached. However the wedge is about to be left. B remains the next realistic target though. Quite bullish IMHO (unless we fall back into or below the wedge without intraday reversal).
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Getting closer to target B. (I guess that the MtGox sellings being one if not the main reason for the last 3 months correction opens up the way for the bulls now...)
Currently less trading volume. Momentum is not very strong. As I said before... the retest A did not fully occur. Seems we have to be patient...
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New trendline seems to be confirmed. It was touched the third time this morning.
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It's finally gonna be a retest of the lower trendline it seems. So it is going to be A (or let's call it A') and then only B (B')... I am Closing this Idea.