Bitcoin Addresses in Profit hit new ATH of 30.4M as BTC Reclaims $12k

Summary: Bitcoin has comfortably broken the $12k ceiling With this move, BTC addresses in profit have hit a new all-time high of 30.4 Million It is still too early to comfortably declare that $12k is a new support zone for Bitcoin Timothy Peterson had forecasted that by November 30th, Bitcoin will be at $12k or above  $12k could very well be a new battlezone for Bitcoin similar to $10k in September A few hours ago, Bitcoin (BTC) broke through the $12,000 ceiling and posted a local peak of $12,313 – Binance rate. Mr. Peterson used his time tested Metcalfe model to predict that Bitcoin will be at this price level by November 30th.

Bitcoin is in bullish territory given that its price is above the three moving averages (50-day, the 100-day and 200-day) Trade volume is in the green with the daily MACD confirming the bullishness However, both the daily MFI and RSI are pointing towards exhaustion at values of 74 and 78 respectively Bitcoin’s next level of resistance stands at $12,400 Short term support lies at $12,100 and $12k Loss of $12k could lead to Bitcoin retesting $11,700 or even $11,500 Conclusion Summing it up, Bitcoin has broken the important $12k ceiling in a move that has resulted in a record number of 30.4 million BTC addresses being in profit. However, analysis by Timothy Peterson using his Metcalfe model indicates that Bitcoin should be at $12k on or before November 30th.

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