Here’s How High Bitcoin May Rally Before Losing Steam

George 980x463

Bitcoin’s price has been showing signs of strength as its consolidation phase continues Although its upwards momentum has faltered, its current stability within the mid-$11,000 region is promising, as it points to some underlying strength amongst bulls Where the cryptocurrency trends in the near-term will likely depend primarily on its reaction to a couple of key levels One analyst is noting that a strong upside movement could be imminent in the near-term That being said, he still thinks the resistance seen throughout the upper-$11,000 region could be enough to spark a selloff Bitcoin and the aggregated crypto market have struggled to garner any strong momentum throughout the past few days. This consolidation has come about closely after the series of strong moves that helped lift BTC from $10,400 to highs of $11,700. The resistance between $11,600 and $12,000 is quite intense, and Bitcoin’s inability to break above this price region…

Read the original article here