Bitcoin Price Analysis: BTC Rally Set For $12,000 Next Week

From bitcoinist.com

Over the last 5 days, Bitcoin has bounced off the 0.382 Fibonacci level as mentioned in my previous analysis. Since then price levels have risen sharply testing resistance just shy of $11,000. An influx of new volume could propel price levels to $12,000 next week. On the 1 hour chart for XBT/USD, we can see the formation of the recent ascending wedge. Similar to a rising wedge, however different in the sense that ascending wedges form prior to a down-trend and rising wedges form prior to an up-trend. Despite Bitcoin rising from $9,600 to $10,900 over the last 5 days, no real momentum has built upon MACD and price ... (full story)