Bitcoin is poised to soar even higher than it has been before
According to analysts, Bitcoin is poised to move even higher after breaking critical resistance of $ 12,000. This is due to the importance of $ 12,000 in BTC’s performance over the past few weeks. The area acted as a rejection point for three separate upswings. A trader shared the chart below when BTC started climbing higher on Monday morning. It shows that BTC has confirmed an ascending triangle – a textbook chart pattern that is often viewed as bullish by analysts. The breakout indicates a move towards $ 12,600, according to the trader who shared the chart below.
Little resistance up to $ 13,000$
13,000 seems to be the level many are aiming for as there is little technical resistance up to that level.A historically correct trader recently commented that $ 13,000 is within Bitcoin’s target ranges. Shortly before, he had predicted that last week’s retracement would bottom around $ 11,100:
“Still a lot of liquidity over us. And the monthly support is still support. In the short term, I think 11900 is possible. But as you know, I’m still aiming for 13,000 in the medium term. Let’s see how much we can get. “