NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Here’s Why $12,000 Is Bitcoin’s “Last Great Resistance”: Analyst

Nick Chong
Nick Chong
1 year ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bitcoin has struggled immensely at the $12,000 resistance over the past two weeks. On at least four separate occasions over this time frame, the leading cryptocurrency has been cleanly rejected at $12,000. Often, the rejection took place at that level exactly, down to a few dollars.

While some analysts don’t assign much importance to that price level, an analyst says that $12,000 is literally “the last great resistance.”

If Bitcoin manages to break that level, analysts say that it will be set to move towards $13,000, $14,000, and beyond.

Fortunately for Bitcoin bulls, there are multiple market catalysts that suggest the level will soon be retaken by buyers.

Related Reading: Crypto Tidbits: MicroStrategy’s $250m Bitcoin Purchase, Ethereum DeFi Boom, BitMEX KYC

Bitcoin Needs To Break Past $12,000 — Here’s Why

$12,000 purportedly is Bitcoin’s last major on-chain resistance, according to data shared by David Puell, the Head of Research at the now-closed Adaptive Capital.

Puell shared the chart seen below on August 16th, which suggests that $12,000 is important because it is the point at which buyers of the 2019 highs will reach breakeven:

“CIH is the delta between two volume profiles (in this case from 2018 onward): bitcoins unmoved (assumed as hodling) and bitcoins moved (assumed as distribution). Three levels of major buyouts are noticeble—two remain as major demand zones; one as a last major resistance.”

Image

Chart of BTC's price action with the Change in Holdings from David Puell (@kenoshaking on Twitter), on-chain analyst and Bitcoin trader. Chart from WhaleMap

The researcher later shared data showing the holding habits of BTC whales. According to Puell, these whales will also breakeven in the $12,000 region, giving the level even more importance than it already has.

Related Reading: Is BTC Really In a Bull Market? Here’s Why Analysts Think BTC Isn’t

Growth Past $12,000 Is Imminent: Analysts

There are signs that Bitcoin will soon see growth past $12,000.

Speaking with CNBC earlier this month, Mike Novogratz of Galaxy Digital asserted that Bitcoin could reach $14,000 in the months ahead. He added that BTC reaching $20,000 this year is entirely viable. Novogratz cited the vast amount of money printing and the influx of interest in Bitcoin versus traditional asset classes:

“Bitcoin still has a lot of retail interest in it. A lot of that retail interest shifted to the story stocks, to the tech stocks, because they were just more fun … Yesterday you saw a lot of money shift back over to gold and bitcoin.”

Others that subscribe to the theory that Bitcoin will see further growth from here include multiple accurate technical analysts and Novogratz’s contemporaries.

Related Reading: Crypto Tidbits: Goldman Stablecoin, Dave Portnoy Wants BTC, DeFi Boom
Featured Image from Shutterstock
Price tags: xbtusd, btcusd, btcusdt
Charts from Tradingview.com
Here's Why $12,000 Is Bitcoin's "Last Great Resistance": Analyst
Tweet123Share218ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

비트코인, 도지코인 및 밈코인 일제히 상승세... 토큰6900도 따를까?

비트코인, 도지코인 및 밈코인 일제히 상승세… 토큰6900도 따를까?

비트코인이 10만 9천 달러를 돌파하면서, 암호화폐 시장 전반에 강력한 상승 신호를 던지고 있다. 이더리움(Ethereum, $ETH) – up 4.65% 리플(XRP, $XRP)...

Soyeon Lee 4 hours ago
elon musk DOGE

Elon Musk plant onthulling ‘America Party’ – significante invloed op crypto markt verwacht

Er is weer volop reuring rond de naam Elon Musk. Hoewel er na de ruzie tussen Musk en Trump enkele...

Lars Diederiksen 4 hours ago

Анализ ликвидности BTC: $107 000 и $110 500 станут целями

Цены на Bitcoin (BTC) продолжают колебаться около $108 000 после незначительного прироста в 0,33% за последние 24 часа. Флагманская криптовалюта...

lisachaikina 7 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin

Bitcoin To Repeat Parabolic Phase From 2017 And 2021? Here’s The Target

Scott Matherson 1 hour ago
Ethereum

Ethereum Breaks Higher With Conviction: No Signs Of A Breakdown Yet

Godspower Owie 2 hours ago

$400M Crypto Seizure by Secret Service Highlights Why Cold Storage and Best Wallet Are Essential

Aaron Walker 3 hours ago

Premium Sponsors

Press Releases

  • XRP, SOL, LTC holders turn to OPTO Miner to earn $5,777 in...

    32 minutes ago
  • More and more XRP and ETH holders are turning to APT Mienr...

    43 minutes ago
  • 新しい仮想通貨|今買うべき注目の3つの新プロジェクトと高い成長可能性

    ...

    3 hours ago
  • 本日の暗号資産市場が上昇中、その背景とは?次のラリーに備える仮想通貨おすすめ3選

    ...

    3 hours ago
  • 2025年にCardano、XRP、Pepeが急騰か?注目の仮想通貨プレセールと次なるミームコインの動向

    ...

    4 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.