Here are the Simple Factors That Could Pull Bitcoin Towards Its 2020 Highs

Rager 1 980x434

Bitcoin is showing tempered signs of strength at the present moment as its price pushes up towards $11,800 The cryptocurrency has been seeing slight weakness in recent days, making this latest upswing a welcome development for bulls BTC has yet to break its prolonged consolidation phase between the lower-$11,000 region and $12,000 Some factors suggest a break of this range is imminent in the near-term One analyst is pointing to stock market strength and weakness in the US Dollar as a couple of these factors to consider Bitcoin and the aggregated crypto market have pushed slightly higher today, with most digital assets still trading mostly flat as BTC approaches its key near-term resistance at $12,000. How it reacts to this resistance should offer significant insights into its near-term trend, as a rejection here would be a significant sign of weakness. Analysts are noting that there are multiple factors currently counting…

Read the original article here