Written by Denis HarrisoncontributorReviewed by Cyril Gilsonformer editorBitcoin Price Analysis: 4/25/2016
MagazinePublishedApr 25, 2016
The upward Bitcoin trend continues. As long as that trend’s structure stays intact, the direction will remain upward.
The upward Bitcoin trend continues. As long as that trend’s structure stays intact, the direction will remain upward.
Which price is the most risky for buying?
After bouncing off the next resistance line, Bitcoin’s price continues growing, which indicates that the bulls are holding the advantage.
The first signal for a turn to decline was the price fortifying at $446. However, since a turn didn’t happen, there is but one option and that is the continuation of the upward trend.
Thus, a new significant level has formed - $452. The mark with the largest accumulated trading volumes and the largest rebound size will be the peak of a new downward correction. If this “cheap” price will not interest the majority of the bulls, a fortification and a turn are likely to follow. After that turn is formed, there will be a more deep rebound with the next target of $438.
The level at which the structure of the upward can be broken is at $452.
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