BTC Bullish all the way, 12 the magic number.

Bulls have the floor with strong upward momentum on the 1 day chart trending well above the 20 and 50 EMA , both of which have not only levelled but are trending upwards.

The biggest obstacle now is the 12k prior resistance levels. If we manage to break these with ease, I would expect a move up to the 13.k level after some profit taking.

Failure to break the 12k line will give the bears a fresh hope of a major retrace and a retreat to 11.2 or even the previous stalwart 10.8 mark.