Bitcoin price has finally reclaimed its position above $12,000 following a period of consolidation between support at $11,500 and resistance at $12,000. The weekend session remained bullish all along but bulls lacked the volume to sustain gains such as the ones witnessed on Monday during the Asian session.
Bitcoin is trading at $12,028 at the time of writing following a 3% value growth on the day. An intraday high has been traded at $12,083 marking a temporary halt to the rally that eyes $13,000. Last week Bitcoin hit new yearly highs at $12,145 but retreated massively. The current gains seem substantial enough to be contained above $12,000 as buyers focus on higher levels; starting with $12,500 and $13,000.
Reprinted from fxstreet , the copyrights all reserved by the original author.
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