Bittrex
It is great to see that Bitcoin just went over the $11.8K level which is relatively normal but personally it surprised me because the small pump was sudden. This would just indicate for a small pullback again following a big long green candle so I would guess that some traders would cashout at this point and buy again at about $200 dollars down.
But Bitcoin might linger for a while in the best case scenario and and would poke at 12K ranger a couple more time before breaking through completely setting a new ATH this year and targeting the anticipated $12.5 dollar range if the traders would judge for themselves that finally BTC is not already priced below the 12K range.
But for certain the price of bitcoin will go up and up until it fulfills its predicted value in the future. The only factor is time because we have to wait as its halving plays also a major role about its continued supply being halved every four years and thereby the demand goes up and also never ceases to go up as more and more people take notice especially if they are seeing that the price goes up and would realize that it is an excellent instrument for an investment.
It is amazing how BTC value goes up so fast all because of its finite supply which keeps on diminishing when some people loses it and of course will never recover it because of the nature of these cryptos where if you lose your keys the cryptos are gone forever. It is also a factor that contributes about how much the supply of BTC goes down although right now people who holds BTC are just aware of that issue and now they are careful not to lose their keys.
Anyway in my view and assessment Bitcoin will test the $12K range maybe a couple of times before going for another leg up. We have to look out for long green and red candles which are the times that we have to sell to buy back again because it is what the chart shows as everytime BTC hits a milestone it just pulls back again and then creep back up again and targeting another milestone.
Disclaimer:
All the statements here are only from the author's own opinion, beliefs, and analysis and should not be taken for your own financial decisions, please do your own research before involving yourself in a highly volatile nature of cryptocurrencies to avoid some potential financial losses.