Bitcoin Price Prediction for April 20, 2016

Apr 20, 2016 --- (ARCHIVED) Free Reports

Market Commentary:

Ahhh, sweet relief. After days, weeks, months, of waiting for any sign of life from our friend bitcoin, the past 24 hours have brought a respite that I’m sure is welcome throughout the community.

The break above 430 $ on volume confirmed an upside resolution out of all triangles, regardless of exchange, and has sent price up to the very top of the OTE short zone. The bears are on the verge of slaughter.

This bullishness is due to a move above downtrend resistance on a nice looking volume profile, an increasing A/D, and bullish EMA’s. That said, all three momentum oscillators are in very overbought territory while the breakout point around 435 $ has not yet been tested, so be careful initiating here.  

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