Bitcoin is currently in an unbroken phase of consolidation in the Region of the upper for $11,000.Here are the crypto has traded currency in the last few days.If the buyer does not move forward and the resistance at $ 12,000 to break, could endure the crypto-currency to substantial losses.An Analyst explained now: He’s watching the price region of between 11.800 and $ 12,000 a exactly, there’s a solid conclusion about this level of BTC could lead to the nearly 13,000 $ “tele”.So far, BTC was not able to do this, and the crypto-currency could be positioned so that it could come in the near future to further downward movements.
Bitcoin seems to have a of 12,000 $ to be stuck. Previously, the crypto currency had an incredibly strong upward trend, which had brought them within a few weeks of lows at $ 9,000 to highs of up to $ 12,000.
The ongoing consolidation phase of the crypto-currency suggests that the buyer have enough buying pressure to break the resistance located just above the point at which the currency is currently traded.
It could also indicate that buyers are losing their momentum.
Nevertheless, BTC is still just a hair to close above a key level that the Coin could allow to teleport in the direction of 13.000 USD “tele”.
$12K insurmountable? Bitcoin is increasingly showing a weakness
At the time of writing, Bitcoin is listed for the price of 11.730 $. This is about where he was traded in the past few days and weeks.
It must be taken into account that BTC is currently in a multi-day consolidation phase – immediately after he was hit by a strong upward trend.
This is within bull markets, not an unusual event, and BTC could fall even lower, while it retains its market structure.
The ultimate level, the need to defend the buyer in the future, is $ 10,500. This resistance level had remained almost a year strong.
This level should be exceeded, it could make the strength that Bitcoin has suffered in the last few weeks, nothing.
At the Moment it seems to not like any kind of sharp imminent downward trend, because each intrusion in the last days, was rapidly absorbed by buyers.
Bitcoin could soon teleport to the top “tele”
Despite the momentum, Bitcoin is just a hair to exceed a critical mark, which could lead to a massive upward trend.
A popular crypto-Analyst writes in a contribution on this level, and commented that a conclusion about the Region of between 11.800 and up to $ 12,000 could be anything, what BTC needs to port to 13.000 $ “tele”:
“If we close weekly above this level, we will witness an immediate Teleportation to 13,000”
Image courtesy of Teddy. Chart on trading view.
Bitcoins trends for the weekend, which should give investors valuable insight into the medium-term Outlook.