Winklevoss Twins Predict Big Week For Bitcoin As Battle For $12k Reignites

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These Key Metrics Are Pointing to an Even Greater Bitcoin Bull Market
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After a few days of sideways trading, it seems that Bitcoin bulls have roused and are pushing BTC towards $12,000 again. The current price of Bitcoin is around $11,697 with positive momentum.

On the daily chart, the first-ranked digital asset is not facing a lot of resistance until $12,123, but of course, the $12,000 psychological level will always act as a strong resistance point.

Cameron Winklevoss, Co-Founder of Gemini, thinks the battle for $12K has reignited. His brother, Tyler Winklevoss, also commented on the current bullish path for Bitcoin:

It appears that both twins are bullish on Bitcoin and think the current week will be really positive for Bitcoin. 

Bitcoin Short-Term Outlook

Winklevoss Twins Predict Big Week For Bitcoin As Battle for $12k Reignites
BTCUSDT Chart Via TradingView

Let’s check the 4-hour chart to see if Bitcoin’s momentum has shifted towards the bulls or not. BTC was trading sideways between $11K and $11,500 for the past two days. The most important resistance level was established at $11,473, a level that was obliterated by the bulls in the 4-hour chart confirming an uptrend again. The 12-EMA and the 26-EMA were on the verge of a bear cross but the recent breakout has stopped them.

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The MACD just turned bullish again while the RSI is not yet in the overbought territory. The next resistance level is $12K and $12,123. The last two candlesticks formed by the bulls are posting increasing trading volume. 

Bitcoin Long-Term Outlook

The weekly chart is also in a firm uptrend and bulls are looking at $12,330 and $14,000 as the next two most important resistance points. If they manage to climb above $14K, bulls will set a new two-year high for Bitcoin.

Winklevoss Twins Predict Big Week For Bitcoin As Battle for $12k Reignites
BTCUSDT Chart via USDT

Most importantly, the monthly chart has confirmed an equilibrium pattern after the bulls defended the low of $3,156 establishing a new higher low at $3,782 in March 2020. A break of $13,970 would most likely be accompanied by a huge move towards $20,000.


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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.