Bitcoin price continued rising, emphasizing the bullish wave that started earlier this week. Yesterday, the price pushed upwards until it touched the $256 resistance line.
The price reached a high of around $259 yesterday, before falling to $249 at the time of writing of this article. Basic and technical analyses are in favor of continuation of the bullish trend to push the price even higher. By studying the 1 day Bitfinex (BTC/USD) charts from tradingview.com, we can notice a reversal of the bearish trend on the 14th of January. By plotting the Relative Strength Index (RSI) on the same charts (look at the below chart), we can observe an upward sloping RSI which is synchronizing with the current price movement. Lack of a bearish divergence using RSI analysis of the trading charts of the past 14 days indicates that the price is likely to continue rising throughout the next few days.
By studying the 4 hour Bitfinex (BTC/USD) charts from tradingview.com, we can observe how the price has been exhibiting bullish bursts that last a few hours, followed by longer periods of slight decline (look at the green candles inside the blue clouds on the below chart). By plotting the Vortex Indicator (VI) on the same charts, we can notice that the positive (blue) uptrend line is still above the negative (red) downtrend line which confirms continuation of the bullish trend. As the gap between the 2 trend lines of the VI is relatively wide, we can confirm the current buying strength of the market.
If the $256 resistance line is broken during the next few days, we can soon see the price rising to approach the $300 resistance line.
Charts from Bitfines
adam 
Talkabit 
Todd1138 
Neal Palmquist 
Now btc was about $290 but fall to 270$
price won’t break $300 soon imo
umm….it just did.
Haha, nobody knows anything. 🙂
now it’s back down to $280, it only went up b/c of the coinbase hype but that’s all over now lol
I made a profit on the bitcoin crash. I sold my altcoins made out of thin air to people who paid real money for bitcoins. Now bitcoin is going up and I am able to sell to get my real money back plus more than what I spent in the first place!
Taking real money from people who pay cash for bitcoin is like shooting fish in a barrel. Keep buying and drive the price up, guys! You will be buying your bitcoins back from me. And thank you very much for all your lies and propaganda that has made this possible.
I’ll have plenty of bitcoins to sell to you guys again after next time when bitcoin crashes down to the price of silver. Let’s do this again, sometime, okay? I can sell your bitcoins back to you guys again and then use your real money to buy a new house!