Bitcoin Price Prediction for April 15, 2016
Apr 15, 2016 --- (ARCHIVED) Free Reports
Market Commentary (BTC):
Bitcoin is moving again! But not by much. The overnight hours saw price rally from the mid-420's $ to over 430 $ by this morning, but is once again hitting resistance at the 431 $ regional high.
In fact, 431 $ was the local top to a penny, which tells us that someone does not want that level to be breached for some reason. Regardless, we still think that the bias is to the upside despite quite overbought conditions, due mainly to bullish price action, supportive volumes, and a favorable fundamental backdrop given the first pieces of SegWit were rolled out over the past 24 hours (Core release version 0.12.1).
We would not be surprised if the market continued slightly higher over the weekend, although as always beware of liquidity spikes to the downside that wash long stops prior to another breakout.