This is an excellent price analysis, the price of bitcoin is already testing the resistance at $11600 probably a break out is imminent, else the price may retrace to the support at $10K having formed head-and-shoulder before rallying upward however all these analyses are subjects to any upcoming fundamentals.
What's so excellent about it? It's a pretty basic analysis stating the very obvious.... Coindesk is only naming up certain scenarios that might or might not happen when X level gets broken or not broken, etc. It isn't any different from the loads of predictions and analysis we have seen lately. It's basically still the same situation as when we were about to head towards the $12,000 level last time. I mentioned it in another post as well, for now we have basically two obstacles to face. The first is $11,870 and then $12,000, which we will likely test when the first resistance point gets broken through. Testing still doesn't mean we'll be able to break it, so till that time, it's better to remain conservative, because in case we fail to break it, we'll be going down again.
