Bitcoin is up over 5% and it surged above the $11,500 resistance zone against the US Dollar. BTC touched the $12,000 market and it seems like the bulls are taking over the crypto market.

  • Bitcoin is gaining bullish momentum and it broke the $11,500 resistance zone.
  • The price even traded above the $11,800 level and settled above the 100 simple moving average (4-hours).
  • There was a break above a crucial contracting triangle with resistance near $11,260 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
  • The pair is trading in a strong uptrend and it could even surge above $12,200.

Bitcoin Breaks $12,000

In the past few days, there was a strong increase in bitcoin, Ethereum and ripple against the US Dollar. BTC even settled above the $11,200 level and the 100 simple moving average (4-hours).

It opened the doors for more gains and the price recently surged above the $11,500 level. The bulls gained strength and the price rocketed above the $11,800 barrier. It even touched to a new multi-month high at $12,000 and it seems like the price might continue to…

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