This Bitcoin Trend Will Continue in 2016
There is one trend which likely will continue into 2016 in the banking world, and that is the trend of Wall Street executives defecting from the mainstream banking industry into the Bitcoin industry. With consortiums such as R3 – and thus the biggest banks in the world – investigating blockchain technology, individuals from Wall Street will enter into the Bitcoin space in order to learn more about the technology. Of course, Blythe Masters entered the space. The creator of the BitLicense, Benjamin Lawsky, also started a Bitcoin advisory company. They’re not the only individuals to leave....
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The upward trend continues to form. What point will be critical for that trend? Will the upward trend hold? As long as the trend’s structure stays intact, the upward movement will continue. If the Bears take the advantage, there will be a natural turn to decline. That is possible to happen at the level of $11.5. That resistance is most likely to serve as the starting point for a turn to decline, provided the price holds. But as long as the trend isn’t disrupted, it will continue going up. The next top target right now is the medium-term level of $12.4. The key point protecting the upward....
After a sharp drop, Bitcoin has reached a key point, from where the medium-term trend could continue. What is necessary for that continuation? Will the upward trend continue? The short-term downward trend was just a correction towards the upward trend. That’s why there was a rebound and the upward trend still has momentum. For the upward trend scenario to become as likely as possible, two things need to happen. First, Bitcoin’s price has to fortify at the level of $450 and form a turn. Second, the market has to avoid a downward scenario with a fortification and a turn at the level of $446.....
Ethereum’s price has undergone a natural fall. How long will the downward trend continue? Will the movement grow into a medium-term trend? There was not enough demand among the Bulls at the level of $11.5, which has caused a drop. The fortification at the level of $11.5 was a confirmation of that drop, which has caused a lack of demand from the buyers. The downward trend will continue, until the Bulls take the advantage once again. A fortification at the key level for the Bears, at around $11.4, will be a confirmation of that. In that case, a turn to growth towards $12 will be likely. This....
A turn to decline didn’t happen, which means that the upward trend is to continue. Bitcoin’s price now stands a chance to reach $445. Will the upward trend continue? The lack of a downward trend means that the bulls are holding the advantage. The majority of the traders were expecting the price to grow, at least in the medium-term scale. Thus, the turn to decline didn’t happen. The $424 resistance remains a critical point. That level is the most likely for a turn of the trend towards the next target of $415. A rebound from the level of $424 has only confirmed its significance. Thus, if a....
Bitcoin is still undergoing a correction towards the upward trend. Will that trend continue or should we expect a turn to decline followed by a sharp fall? At which point is the upward trend most likely to continue? Bitcoin’s current rebound may likely grow into a turnaround. The current price is profitable for the bulls. Thus, the reaction of the price at the current level will indicate with whom the advantage lies on the market. In order to break the structure of the correction and continue the upward trend, Bitcoin’s price has to enter a zone, which is profitable for the bears. $426 is....