- Bitcoin price has been struggling to break the $12k resistance for quite some time, now.
- Recent predictions, however, suggest that such struggles may be over soon.
- Two analysts have, independently from one another, predicted an upcoming rally to take BTC above $12k soon.
Bitcoin price has been stuck between $11k and $12k for quite some time now, although some recent price forecast seem to signal that a change might be coming. The coin’s performance has indicated strong signs of strength, especially in the last 24 hours. On top of that, its long consolidation bout seems to be approaching the end.
At the time of writing, Bitcoin price still sits in mid-$11,000s, currently at $11.617. However, the signs of strength are quite clear, and while the coin has not yet pushed as far up as to even reach $12k, and much less go beyond it, many believe that a new surge is coming.
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Signs that BTC is about to go up
Of course, until the $12k level gets broken, there is no certainty that the coin can go higher to a new YTD high. BTC will have to go beyond $12k and turn it into a support before any further advances can be truly considered.
Despite this, one analyst recently pointed out that upside is to be expected based on the fact that the coin has been able to consolidate above $11.600. They also base the prediction on Ethereum’s recently displayed strength.
Finally, the analyst also pointed out that these factors seem to have arrived just as BTC broke above the upper boundary of its descending triangle.
Of course, a single prediction alone is mere speculation. But, similar thoughts were expressed by another analyst, with this one predicting a rally towards $12,400. While their prediction is not as optimistic as the first one, it still signals that a rally is on its way, and that the $12k level might truly become Bitcoin’s next big support.
