Bitcoin Price Analysis: BTC/USD Sights Set on $12,000?

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Bitcoin has formed lower highs and found support at the $9,300 mark to create a descending triangle pattern on its 4-hour time frame. The price just broke through the resistance to signal that an uptrend is in the works.


The 100 SMA is below the longer-term 200 SMA to indicate that the path of least resistance is to the downside or that bearish pressure is still in play. Price is closing in on the 200 SMA dynamic inflection point, so this might hold as resistance around the $10,700 mark. A…



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