Bitcoin teases $12k; "BTC will never be less than $10k again," says analyst

04 Jul, 2019 | Updated: 04 Jul, 2019
by Will Heasman
Price Analysis
Bitcoin teases $12k; BTC will never be less than $10k again, says analyst

Right now it seems as though Bitcoin is pretty much back on its original track following a volatile, but perhaps warranted, 30% correction earlier this week. Now, Bitcoin is teasing $12k once more, and for the most part, analysts are fairly positive that Bitcoin can make it through this latest level of resistance.

Right now Bitcoin (BTC) is trading at $11,910, citing an intraday increase of around 5%:

BTC/USD Chart provided by Tradingview

Four figure Bitcoin?

Kicking off the bullish vibes, Jesse Feinberg, aka Darth Crypto, shared his belief that Bitcoin would never be below $10,000 ever again, backing up his bold statement with the fact that he apparently augured the same when BTC was trading around $4,400.

However, it seems that not all crypto Twitter shares the same sentiment as Feinberg. This is according to a poll produced by trader Nik Patel, asking whether or not BTC would ever be below $10k again. The results of the poll overwhelmingly show that many users expect BTC to go lower…

What are the traders saying?

According to Satoshi Flipper, a bull flag which appeared to be forming within Bitcoin earlier today has broken out, alluding to a continued move higher:

The Wolf Of All Streets, noted that Bitcoin was in the process of flipping previous resistance at $11.6k and turning it into support:

In a previous Tweet, the trader suggested that a target of $13K was on the books for BTC thanks to the aforementioned bull flag, which BTC has recently broken out of.

Crypto Michael relayed that if BTC could keep $11.4k as support, it may provide a leg up to break resistance at $12k and allow for a movement onto new highs. However, taking the bearish perspective the analyst caveated that if BTC falls through support around $11k, we could well see Bitcoin fall to four figures once again.

What do you think? Can Bitcoin breakthrough 12k and make it to new highs? Or will we see another retrace? Let us know your thoughts in the comments below!

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