Bitcoin New Rally Hit $12,946. Where Do We Go from Here?

Bitcoin (BTC) is trading at around $12,665 at the time of writing.

Within only a matter of hours, it went straight from $11,700 to just over $12K, breaking all resistance on the upside and it’s currently behaving like it won’t stop.

In the last few days, we saw Bitcoin finally reaching $10,000 on 22nd June when it also hit $11,157 to close the day back to just over $10,000.

The following days we hit $11,000 a few times but always closed the day in the $10,500 range, and it seemed hard to break the $11K barrier.

Now, this happened only in the range of 3 days. Which in the bullish crypto season seem like a lifetime for those who follow the market trend non-stop and get to a point when nights and sleep are a distant memory. 

When Bitcoin hit $12k earlier this morning, technical analysts and general traders were expecting the coin to find resistance at $12,150. Instead, they experienced an uncontrollable rally again all the way up to $12,946.

Bitcoin $12000

Bitcoin 5-Day Performance

 We mentioned in an article earlier in the month that there won’t be much resistance level from now all the way up to $20,000. Therefore, it will be exciting days ahead to see how the top cryptocurrency reacts and if it follows the same pattern as in 2017.

From $11,923.40 on 6th December 2017, Bitcoin went all the way up to close the day at $14,291.50. On 17th December it hit $20,089.00. The coin grew an astonishing 44% to reach its All-Time High within a matter of a few days.

Most will say this time around the top cryptocurrency is more stable, and the growth will be more robust and steady, but all the charts are showing right now is a massive driving force pushing on the upside with no rest, just like the previous bullish curve that brought it to $20k.

However, we’ll fold our hands and watch how this plays out. Bitcoin could well surprise all of us!

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