Bitcoin price analysis for the week ending 20th April 2016 was bullish, as price broke levels and made new highs.
The price of bitcoin stirred up bullish sentiments, reviving hopes of a continued trend from September 2015. Over the month of March price has been trading within a range, marked by $423 on the upper and $403 on the lower limit. Simultaneously, bitcoin has been gradually creeping up a trendline, that has been a support for higher and higher lows. This week was exciting to watch, as price broke through $423 resistance, topping off at $439 on Bitstamp seen on this 1 D chart below.
For a while now, since $382 low on March 5, breaking up above $423 was tried multiple times, it finally broke this week. In the past 4 days, price retraced from $438, coming back down to find support at $423. This level formed the base for a renewed attempt at $440 that is unfolding as of writing this.