Bitcoin has just broken $12000 on coinmarketcap. That level has been the primary resistance for around 1 week right now. Whenever the price has came close to $12k(high $11k's) the price has dropped to under $11k.
What we consolidate from the above chart is
1. Bitcoin price is slowly stabilizing from the fall.
2. $10k support is very strong, if bitcoin heads that way then it'll naturally go up as a result to pre-correction levels.
3. A move seems likely soon, either way. The price shouldn't stay within this thin bracket of $10-12k for long.
I personally think that it's a great time to buy bitcoin, because considering all of these facts, the worst that is going to happen for this and next month is bitcoin going down to a little over or around $10k and no upward momentum builds up. You would be taking a 17-20% loss if that happens.
If bitcoin does break out, however, then we shall be looking at $14k as a short term target, potentially $15k. After that though we could be looking at getting to $20k finally.
What we will have to see over the next few days is that whether this $12k level can stand the test of time. If $12k's resistance becomes support, then $15k per BTC is just a matter of time.
I think this may happen by this week as bitcoin needs to turn $12,000 resistance into support level we it to be able to build a very strong support that may build foundation for $15,000 assort. I live the way bitcoin is having a very serious steady progress this days since the last fall.
