Crypto Technicals: Bitcoin takes out $12,000 mark, bulls eye 61.8% Fib at $13,488

BTC/USD chart - Trading View

Exchange - Coinbase

Support: 11510 (50% Fib); Resistance: 13488 (61.8% Fib)

Technical Analysis: Bias Bullish

Bitcoin bulls seem unstoppable, with three straight week's of gains.

Formation of 'Three White Soldiers' pattern on the weekly charts will reinforce the bullish bias.

Price action has broken above weekly cloud and 50% Fib retracement at 11,510.

Momentum studies are bullish. Though oscillators are at overbought levels, no signs of reversal or correction yet.

Volatility is rising and next immediate bull target lies at 61.8% Fib at 13488.

21H EMA at 11740 is strong support. Break below could see minor correction till 10,200.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.