Bitcoin: Big Move Incoming?
Bring it on!
“The bullish case for Bitcoin is that the bulls have maintained support over $9,000 for 10 days and price action is forming a rounding bottom which can be seen as a sign of continuation to the upside when in a bullish move. Occurring just below resistance might imply that the bulls are starting to push the price back to retest the weekly resistance at $9,550.
If Bitcoin can reclaim $9,550 and turn it into support, it may be an early sign that the digital asset is ready to continue higher. Due to the size of the previous movement, a measured rally higher might include Bitcoin quickly retesting previous resistance at $11,500 and possibly moving higher.
While seemingly a tall order, the most recent breaks above $10,000 saw Bitcoin move sharply higher. A quick move to $12,500 would not be out of the question if there is a significant short squeeze combined with fear of missing out invoked buying.”