In just the last couple of hours, Bitcoin has managed to push above the resistance seen at $11,400, and is now showing considerable momentum towards $12,000, the next major resistance. Already traders and analysts are responding to what this could mean.
Currently the price of Bitcoin has just touched on $11,600 level and is eyeballing $11.7K:
BTC/USD Chart provided by Tradingview
Already voices from across twitter are beginning to respond to this exciting break. Some are just in awe:
See Crypto Michaël's other Tweets
Others are still concerned about the relatively poor performance of most Altcoins at the moment:
well $BTC looks like it's about to pump to $12k+. Maybe alts really are going to 0
33 people are talking about this
Some are concerned that this pump is not supported by enough volume to be sustained:
And there are those who see no reason this run could not carry us a lot higher:
1/1- It’s hard to not look at the chart and think it should correct.
I am still long all my spot, this reminds me of every other time we assumed a correction was iminent, i.e. end of March, only for price to fire up and leave sidelined investors scrambling to enter. $btc
2/2- so far no change in trend, price does not NEED to correct, especially now that MSM is starting to fire up around it. $btc
See Cantering Clark's other Tweets
The next few hours could be critical for where Bitcoin goes next. As always, stay right here with Chepicap for all updates on this fast moving price action!
Source Article :- https://www.chepicap.com/en/news/10769/bitcoin-breaks-major-resistance-at-11-400-is-12k-next-.html
