Bitcoin May See 30% Rally to $12,000 as Price Breaks Out

While there are some bearish technical signals for Bitcoin, the cryptocurrency has managed to hold the $9,000s against the odds. As of the time of writing this, BTC is changing hands for $9,250, up a mere 0.22% in the past 24 hours.

According to a leading analyst, the fact that Bitcoin has held in the $9,300 range is a sign that it may be readying to surge to $11,300, maybe even as high as $12,300.

Related Reading: Ethereum May Target $170 in Near-Term as On-Chain Volume Drops 20%

Bitcoin Preparing to Shoot to $13,000

Josh Olszewicz, an analyst at Brave New Coin, recently argued that the bull case for BTC is building once again, despite the lull seen over the past week. He quipped that the alligator indicator, an indicator that uses three smoothed moving averages to determine trends, is starting to show that Bitcoin is building strength, having gone as far as to signal a long entry.

Olszewicz then noted that the cryptocurrency has recently broken above a triangle. The measured move of…