The bitcoin bulls have done it again with a huge bull break above the $11000 level, the $11085 daily resistance and the falling wedge on the weekly chart. This is a huge achievement for the bulls and although the volume isn’t too great, it doesn’t really matter at this point. The price is no way above the daily EMA’s which have crossed bullish.
This price increase really was incredible, but it is not easy to overcome the support it has at $12000. several times whenever the price is above $12000 it does not take long for it to fall below $12000
You probably meant resistance, right?
Regardless, Bitcoin entered, let's call it, no-man's land, an area where there is not enough supply as well as demand to stabilize prices at their current levels above 10k. Hence we see the levels of volatility that we haven't seen with Bitcoin since 2017. The practical importance of this phenomenon is that we are unlikely to surge way above recent highs
and stay there. On the other hand, there seems to be real support (yeah) piled up at 9k, so why not ride these waves of volatility while they last?