The Bitcoin market is making a steady rise to the $420 resistance zone as it is currently trading at $416.12 on Bitstamp. In our previous Bitcoin technical analysis we mentioned that if no major selloffs occur the price will keep climbing, so far the market has proved that theory to be true. How much longer the price will rise depends on how well support will hold at $416. While the monthly trend is bullish, looking at the 24 hour chart we can see the price slouching after a high of $420 – an infamous resistance zone.
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