Taking Out $12K Leaves “Clear Skies” For Bitcoin To Set New 2020 High

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Bitcoin price is currently down nearly $400 from yesterday’s highs in a flash, after coming close once again to the $12,000 resistance level. According to a crypto analyst referencing on-chain analytics, once $12,000 is broken through cleanly by bulls, there’s “clear skies” above that until $16,500 – which they claim is just a minor “speed bump.” Technical analysis also demonstrates just how critical $12,000 has been to Bitcoin and its ongoing bear market, and why it may remain the key to fully unlocking the power of the next bull run. On-Chain Volume Analysis Shows “Clear Skies” For Bitcoin Above $12,000 At this point, $10,000 feels like an afterthought, and now the leading cryptocurrency by market cap faces $12,000 as the de facto resistance level to break. $12,400 is the current 2020 high, but after Bitcoin has now spent its longest stretch above $10,000 in its history, and fundamental health improves…

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