It was preceded by a smaller cup. If you look at the previous cup, you can see it made a little handle from $60 down to about $50 (after the monster candle wick) for a couple days before making a strong run into new highs. Expecting something similar as this current cup ends. We should be breaking into new all time high any day now, with a good chance of a pull back to around the $70-80 level to form a handle first before continuing onward!
Not my target, but a lot of the people I follow are predicting $140 for the next move.