Bitcoin Price Analysis 20th April 2016

Bitcoin price analysis for the week ending 20th April 2016 was bullish, as price broke levels and made new highs.

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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.

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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.

3Read more ... source: TheBitcoinNews

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