Bitcoin is climbing to the $ 12,000 mark again, but this time the omens are good. As a rule, weekends for Bitcoin (BTC) are characterized by a reduced trading volume because day traders often take a break and crypto derivatives trading is also closed. Experienced traders know that the order books of the trading platforms are thinned out on weekends, which creates favorable opportunities for large investors to temporarily manipulate the price with larger transactions. One more reason to refrain from trading on these days. This Saturday, however, it behaved differently than usual, because this time the traders seem to give a damn about the reasons mentioned above and instead are trying to heave Bitcoin again towards $ 12,000.
A second time
If the jump over the strong resistance fails for the second time this week, that would be a bad sign, as some experts see repeated failure at a resistance as a warning signal. However, there are some who claim that a repeated upswing in resistance increases the likelihood that it will sooner or later be cracked. If Bitcoin can close above the US $ 12,000 mark accordingly, traders should try to raise the market-leading cryptocurrency to the higher daily highs of US $ 12,068 and US $ 12,123, which could accelerate the subsequent climb even more.