Analyst Expects Bitcoin Retrace to $12,000 as Powerful Uptrend Stalls
Bitcoin has flashed some immense signs of strength throughout the past few hours, once again pushing up towards $16,000 Bulls appear to be gearing up for another test of this crucial resistance level If rejected here, this level could be confirmed as a mid-term top that is followed by immense downside A break above this level, however, would but a move to its all-time highs on the table One analyst is noting that he is now looking to regain exposure to BTC after taking some profits, stating that he expects a sharp retrace
This potential retrace could cut as deep as $12,000, according to a chart he put forth.
See more for yourself here (https://bitcoinist.com/analyst-expects-bitcoin-retrace-to-12000-as-powerful-uptrend-stalls/).