Since start of year Bitcoin price is in a constant decline for weeks. From testing bottom at $7500 to testing resistance at $11500 it has been a roller coaster ride.
Although looking at the charts the story is still not in the bull favors although bears continue to exhasut. The recent Bitcoin price push up to $11700 didn't break the Bitcoin's downtrend it has been facing for a while and is still looking for another leg up to do so. Coming back to the main topic. So well, will the price finally cross $12000? Well the picture doesn't show a favorable answer
As we can see from the image that the Bitcoin price is moving along the red line and the blank line under it. In order to really push the price above $12000 it needs a good volume and some good momentum which we don't currently have and centrainly not in Feb. The Bitcoin price however is likely to remain above $9000 as we experience the slow end to the downtrend.
