It was an amazing week for bitcoin price as it moved above the $10,000 and $11,000 levels against the US Dollar. The upside move was very strong and the price traded as high as $11,386 before it faced sellers. The price corrected sharply lower, but downsides were limited by the $9000 level. There were strong bids near the mentioned level $9000, and the price recovered very fast.
It seems like the price is preparing for more gains above $11,000. Once there is a break above a bearish trend line at $11,400, there are chances of BTC moving past $12000 in the near term. The next major target could be $12,500.
It seems like the price is preparing for more gains above $11,000. Once there is a break above a bearish trend line at $11,400, there are chances of BTC moving past $12000 in the near term. The next major target could be $12,500.