Lorenzo Stroe
Independent Analyst
- Bitcoin just climbed above $12,000 touching $12,200 on Binance but getting rejected.
- It is now fighting to stay above $12,000 as selling pressure keeps mounting.
Bitcoin is currently trading at around $12,050 but bulls are not confident that this is the final attempt to crack $12,000.
BTC/USD 1-hour chart
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The $12,000 level has been a tough resistance point similar to what happened months ago with $10K. In fact, it has been worse due to significant liquidations happening above the resistance level creating massive wicks to the upside and downside in mere minutes. This latest attempt to crack $12,000 has a lot of trading volume but investors are not confident just yet. We would need to see Bitcoin trading above $12,000 for a few hours and then see continuation to really confirm the breakout.
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