The bitcoin price has broken $8,000 USD – yet another milestone. Now, the price could rise as high as $9,000 before the last round of profit taking occurs ahead of the big rally to $12,000 in early 2018.
Prices left behind a major Elliot Wave movement to arrive at the Gann´s Angle Theory trigger zone, which could launch a rally towards $9,000. Those actions contribute to the likelihood of an imminent rally to a higher bitcoin price.
In addition to having bullish mathematical indicators, the bitcoin price in the mid-term depends heavily on fundamental data. Short-term quotes crossed the Gann´s theory bearish angle to reach the trigger zone, which should launch a bull rally towards $9,000 in the nearby.
From there, sideways trading activity should confirm a new scenario in which the bitcoin price rises to $12,000 as the first technical objective for 2018. What do you think will happen to the bitcoin price?.