Bitcoin is Pushing Against a Crucial Level as Chances of an Explosive Rally Grow

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Bitcoin and the entire crypto market saw a strong afternoon yesterday. This allowed BTC to push up towards $11,800 The cryptocurrency is now caught within what will likely be a short-term consolidation phase at just under $12,000 Whether or not it can surmount this crucial resistance today will help offer insights into its short-term outlook One analyst explained in a recent tweet that yesterday’s daily close does seem to indicate that a break above this level is imminent The recent uptrend has also allowed Bitcoin to break out of a massive bull pennant formed since 2017 on its monthly chart Bitcoin’s bull case is growing. There are a plethora of factors that all indicate it is gearing up for a push higher that sends it to fresh yearly highs. This strength comes as the cryptocurrency trades right around its highest level seen all year, with bulls now attempting to garner…

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