Bitcoin Likely to Reach $12,000 Following Robust Weekly Close, Claims Trader

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Bitcoin’s price has been sliding lower throughout the past few hours due to its stalling momentum This decline is occurring directly following an incredibly bullish weekly candle close posted by the cryptocurrency Analysts believe that this close will provide it with some serious strength going forward, potentially putting a firm end to its recent downtrend It is important to note that there is a CME gap that exists around $11,100, which may act as a magnet that pulls BTC lower Once filled, however, the support around this price level could be enough to propel Bitcoin significantly higher Bitcoin and the entire cryptocurrency market are currently caught within yet another consolidation phase. This comes just days after they experienced some intense upwards momentum that put an end to the previous bout of sideways trading. BTC’s recent upswing led it to highs of $11,400, which is around where its rally lost its…

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