Bitcoin just broke $12,000 for the first time since September 1. The $12,000 psychological level was a strong point holding the price of Bitcoin. The digital asset is looking at $13,000 and even $14,000 as most technical indicators show very little resistance to the upside.
BTC/USD daily chart – TradingView
The next critical resistance point would be $12,490, the 2020-high established on August 17. The daily RSI is overextended currently, however, the last time this happened on July 26, the price of BTC didn’t stop.
The MACD has been bullish for one month and it’s gaining strength again. Similarly, trading volume is also increasing significantly after the breakout above $12,000.
Bulls need to push Bitcoin further to ensure the digital asset closes above the psychological level of $12,000.