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Topic: Bitcoin broke $12,000. Still a good time to buy imo. - page 2. (Read 299 times)

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Bitcoin has just broken $12000 on coinmarketcap. That level has been the primary resistance for around 1 week right now. Whenever the price has came close to $12k(high $11k's) the price has dropped to under $11k.



What we consolidate from the above chart is

1. Bitcoin price is slowly stabilizing from the fall.
2. $10k support is very strong, if bitcoin heads that way then it'll naturally go up as a result to pre-correction levels.
3. A move seems likely soon, either way. The price shouldn't stay within this thin bracket of $10-12k for long.

I personally think that it's a great time to buy bitcoin, because considering all of these facts, the worst that is going to happen for this and next month is bitcoin going down to a little over or around $10k and no upward momentum builds up. You would be taking a 17-20% loss if that happens.

If bitcoin does break out, however, then we shall be looking at $14k as a short term target, potentially $15k. After that though we could be looking at getting to $20k finally.

What we will have to see over the next few days is that whether this $12k level can stand the test of time. If $12k's resistance becomes support, then $15k per BTC is just a matter of time.
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