$12,000 right now is the new short term resistance already as we saw a short dump when it reached the $12,000 price.
Now if the $12,000 has been passed on and stayed above there for a couple of days then we may see a further up trend. However, I'm expecting for a short dip to happen at around $10,000 or below of it before a major rally will happen.
I love how Bitcoin made to $11,900 few days ago, it's kinda psychological part and dump again. For sure lot of people set their profit order on that part area which not exacyl on $12,000.
Well, that's not the big deal now. If we look on the momentum indicator of Bitcoin, on Relative Strength Index (RSI) we saw an overbought part on 1D time frame on the monthly close days of month of July and now we are near again to dropping at not-overbought area which is good again to accumulate.
I am expecting to see $10,000 before $12, 000. Well, $10,000 is kinda far but who knows.
I actually didn't expect that to happen on this stage while there is a big crisis happening these days and for sure we will see more pumps in future. Although its hard to say on which price we are heading next but still we have a huge glimpse of $12,000 since we are one step closer for that value to come.
And we need more demands and other things that can help bitcoins pump more.