3 key metrics show bulls control Bitcoin price despite $12K resistance
Cointelegraph
Published Aug 29, 2020 04:45PM ET
Updated Aug 30, 2020 07:40PM ET
Bitcoin (BTC) price dropped by as much as 10% this week and while this might be scary for day traders, the 3-day chart shows the downside move hardly made a dent on the current market structure.
This holds especially true when considering that the $12,500 level hasn't been touched in over 13 months. Currently, analysts are making $16,000 price targets partially due to a CME gap and the expectation that U.S. inflation will rise higher.
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Written By: Cointelegraph
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