How High

Bitcoin is Poised to Push Towards $14,000 After Posting Bullish Weekly Close

Bitcoin has continued consolidating within the upper-$11,000 region overnight This extended period of sideways trading has come about despite it facing multiple recent rejections at $12,000 Its inability to break above this level has so far not led it to see any notable near-term downside, with $11,700 becoming a strong level of support This support level was previously a crucial resistance that it was struggling to close above Yesterday marked the first daily – and weekly – close that the cryptocurrency had been able to post above this crucial level

Here’s How High One Trader Expects Bitcoin to Climb Before Forming a Top

Bitcoin faced yet another $12,000 rejection yesterday that caused the cryptocurrency’s price to reel down towards $11,700 This level appears to have been established as support, as buyers ardently defended against any break below it It now appears that the crypto’s short-term technical outlook remains unchanged, as BTC is still consolidating within the upper-$11,000 region As for where it may go next, one analyst explained that he is looking towards $13,000 as a near-term target He does note that the visit to this level may mark a mid-term top for