Why Bitcoin Is Entering “Slightly Dangerous” Territory After Rally to $12k

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Bitcoin has begun to trend higher over the past few days after a drop towards $11,000. As of this article’s writing, BTC trades for $11,900, trading slightly below Friday’s high of $12,000. Bitcoin is up around 0.54% in the past 24 hours, outperforming a number of altcoins. Despite the strength BTC is seeing, not everyone is convinced that the asset is in a bullish state. One analyst cites the potential rising wedge forming. A rising wedge is a textbook market structure seen prior to price corrections. Bitcoin Isn’t As Bullish as Some Think It Is: Analyst Bitcoin has pressed higher over the past few days after flirting with breaking below $11,000. The leading cryptocurrency trades at $11,900 as of this article’s writing, up around 0.5% in the past 24 hours. Despite the bounce from the weekly lows around $11,100, not all analysts are convinced of positive sentiment. A trader shared…

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