Bitcoin Price Analysis: 4/12/2016

Bitcoin’s upward trend continues.

Will this movement reach the $450 mark and set a new maximum?

Will the price reach 450?

Bitcoin’s price failed to fortify at the key level of $417.5, hence the upward trend continues. After a failed fortification and absence of a turn to decline, there is only one option, and that is for the trend to keep going up.

If Bitcoin’s price continues following its current trend, the next target will be at $445-50. The critical rebound line is at $422, where the largest trading volume has accumulated. The $422 mark is the probable peak of a rebound. But if Bitcoin’s price holds at it and forms a turn, a sharp drop towards the minimum of $414 will become likely.

Until the trend’s structure is disrupted, the current movement will continue. The $422 mark may become critical for the upward trend.