Bitcoin Price Analysis: BTC Rallies Above Key $12K

In the past few days, bitcoin price consolidating above the $11,260 support level against the US Dollar. The 23.6% Fib retracement level of the recent increase from the $11,661 swing low to $12,310 high is also near $12,150.

The first major support is seen near the $12,000 level (the recent breakout zone). The 50% Fib retracement level of the recent increase from the $11,661 swing low to $12,310 high is also close to the $12,000 support level.

Timeline of Bitcoin