Bitcoin Cranks to Crucial Resistance at $12,300, Can it Go Higher?

Within the past hour, Bitcoin has made its move back to tap $12,300 which equals its high for this year made in mid-August. Since that first move above $12k over two months ago, BTC corrected to the high $9k zone resulting in a 20% pullback.

All of those losses have now been reclaimed as it returns back to 2020 highs in a largely predicted move that has added $550 over the past 24 hours. The big move has come at the expense of the altcoins as BTC dominance has increased to an almost three month high of 62% according to Tradingview.com.

Timeline of Bitcoin