Bitcoin price rally to $12K is meaningless until bulls flip it to support

On Tuesday Bitcoin (BTC) bulls mustered enough strength to push BTC price slightly above the $12K mark, a level not seen since Sept. 1. 

Cryptocurrency daily market performance snapshot. Source: Coin360

The move occurred after Monday’s (Oct. 19) high volume surge to $11,822 was followed by continued buying into Tuesday, providing enough momentum for bulls to push above the ascending channel to $12,038.

BTC futures volume by exchange. Source: Digital Assets Data

The rally to $12K was also…


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