The price of Bitcoin is nearing $12,000 once again, which may be the signal for the start of a massive new bull cycle.
The price of Ethereum is showing similarities with previous bull cycle beginnings as $800 ETH is coming back in play.
The recent weakness in the dollar is giving Bitcoin some momentum to possibly test multi-year highs.
The price of Bitcoin is likely to see a retest of $12,000 in the short term.
Bitcoin’s newly found bullish momentum has traders targeting $12,000 and above.
Bitcoin price rallied close to $11,000 after Square announced a $50 million BTC purchase.
Receding volume and sideways price action signal that Bitcoin price volatility will increase soon.
Investors should keep an eye on the tight inverse correlation between the strength of the U.S. dollar and Bitcoin.
Bitcoin price technical analysis shows some key levels that traders should watch this week as BTC remains range-bound below $11,000.
Bitcoin remaining relatively stable despite a cryptocurrency exchange getting hacked over the weekend is a positive sign for the market’s maturity.