Here’s Why an Analyst Thinks Bitcoin Will Hit $12,000 Next Week

5f4a1127152e3

Bitcoin has pressed higher after the 3-4% correction on Thursday. As of this article’s writing, the asset trades for approximately $11,500. While this is above a notable price point already, analysts think that Bitcoin will extend its gains in the near future. One trader noted that there are clear signs that BTC will soon trade back above $12,000. This bullish price action is somewhat dependent on the value of the U.S. dollar. Bitcoin Could Hit $12,000 in the Near Future: Here’s Why Bitcoin has pressed higher in the past 24 hours, moving to $11,500 as of this article’s writing. The asset topped around $11,550 in this near-term rally. The asset is poised to move higher in the coming days towards $12,000, one trader thinks. He cited three trends formed on Bitcoin’s four-hour chart: the creation of a divergence between the price action and the RSI, an “exhausted” supply region around…

Read the original article here

IF YOU LIKED THIS ARTICLE CLICK SHARE