Bitcoin Price Prediction for April 13, 2016
Apr 13, 2016 --- (ARCHIVED) Free Reports
Market Commentary (BTC):
As much as we all want bitcoin to resolve in one direction or the other, it just keeps pushing sideways in a seemingly never ending consolidation.
Depending on what exchange you are looking at and how you draw your trendlines, it seems as though the epic symmetrical triangle that the market has been forming for over six months has been broken to both the upside and the downside. Regardless, the reactions from the market when supposedly key levels are broken has been anemic for quite some time, and remains so even now as a "break" of the Stamp daily triangle higher was accomplished earlier this week to little fanfare.
Unfortunately this may support the hypothesis that we see months more chop pre-halving just like in 2012, however we are still leaning towards a bullish breakout to the upside, at least to resistance, in the not too distant future.