New 2020 Bitcoin Price High at $11,965 Proves Bulls Remain in Control

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Bitcoin Bullish

After securing a strong daily close, Bitcoin (BTC) price continued to press higher by cruising through the $11,900 level within the last hour.

Breaking through the $11,500-$11,800 range was the bulls most significant achievement of the last week and a number of analysts have noted that above the $12,000 level there is little overhead resistance.

This has led some traders to forecast a swift move to the $14,000-$15,000 level.

In a previous analysis, Cointelegraph contributor Micheal van de Poppe said that:

“The $11,500-11,800 resistance area is an ancient and substantial area on the charts. Not only did this level serve as resistance throughout the summer of 2019, but it also acted as resistance during the peak mania of December 2017.”

This most recent move to $11,965 broke through this ‘ancient’ range and according to van de Poppe once “the price of Bitcoin breaks through this zone, then there is a lot of open range above and a new bull market will be upon us.” Read More

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