Bitcoin Heading North In The Beginning of The New year

Bitcoin price printed a high of around $435.94 during the early hours of 2016. Despite the fact that the market’s bulls were successful in breaching the $431 level, which has been resisting advancement the past couple of days, price correction pulled the price down to a low of $427.17 a few hours after printing the day’s high. So, can we see bitcoin price rise to test the resistance around the 23.6% Fibonacci retracement level ($446.5) during the upcoming 24-48 hours?

I detected a bullish reversal signal on the 1 hour BTCUSD charts from Bitstamp.

Check it here: