Bitcoin Price Prediction for April 1, 2016
Apr 1, 2016 --- (ARCHIVED) Free Reports
Market Commentary (BTC):
They wanted stability in bitcoin and they've gotten it recently, however for traders other words for stability are "boring" and "unprofitable".
As price continues to trek sideways around the 415 $ pivot point, it is slowly but surely reaching the apexes of all of these symmetrical triangles on by one. The thing is, price is not reacting once we push through these patterns, albeit the 12-hour and daily triangles remain intact, which tells us that perhaps participants are expecting more choppy, flat consolidation prior to a real move in either direction later this year.
Back in 2012, the market went sideways for months between 12 - 14 $ before the halving day occurred on December 28, 2012. We can see on the chart below just how flat things can get. Hopefully we avoid such a fate this time around, but there are no guarantees in markets, especially not in crypto.