Analyst Expects Bitcoin Retrace to $12,000 as Powerful Uptrend Stalls

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Bitcoin has flashed some immense signs of strength throughout the past few hours, once again pushing up towards $16,000 Bulls appear to be gearing up for another test of this crucial resistance level If rejected here, this level could be confirmed as a mid-term top that is followed by immense downside A break above this level, however, would but a move to its all-time highs on the table One analyst is noting that he is now looking to regain exposure to BTC after taking some profits, stating that he expects a sharp retrace This potential retrace could cut as deep as $12,000, according to a chart he put forth Bitcoin and the aggregated crypto market are continuing to flash signs of strength as buyers gain control over the entire market. Even altcoins have been catching up to BTC as of late, signaling that the aggregated market is finally beginning to…

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