Written by Denis HarrisoncontributorReviewed by Cyril Gilsonformer editorBitcoin Price Analysis: 4/15/2016
MagazinePublishedApr 15, 2016
A turn to decline didn’t happen, which means that the upward trend is to continue. Bitcoin’s price now stands a chance to reach $445.
A turn to decline didn’t happen, which means that the upward trend is to continue. Bitcoin’s price now stands a chance to reach $445.
Will the upward trend continue?
The lack of a downward trend means that the bulls are holding the advantage. The majority of the traders were expecting the price to grow, at least in the medium-term scale. Thus, the turn to decline didn’t happen.
The $424 resistance remains a critical point. That level is the most likely for a turn of the trend towards the next target of $415. A rebound from the level of $424 has only confirmed its significance. Thus, if a new fortification and a turn do happen at it, a sharp fall is likely to follow.
The current upward trend will continue, until a turnabout happens at the level of $424.
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