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Max Keizer explains why Bitcoin's price won't face many obstacles until it reaches $ 28,000


Currently, Bitcoin is trading within a massive bullish rally after briefly rising above $ 12,000 for the first time since August 2019. Unfortunately, buyers were significantly rejected from $ 12,123 on Binance and Bitcoin's current price is $ 11,400, which remains bullish overall.

The massive BTC rejection of $ 12,123 to $ 10,518 in just minutes was definitely an alert, but it doesn't necessarily mean that the bullish momentum has ended – in fact, such a move was expected basically considering the magnitude of the rally.

On the daily chart, Bitcoin was able to defend the 12-EMA at $ 10,691 and rebound above $ 11,000.

The bulls faced a crucial resistance level at $ 12,330, set in August 2019 before $ 13,970 and, of course, $ 14,000. Basically these are the only two main resistance levels up to $ 20,000 as the bears didn't set many levels on the way down after the accident from December 2017 to January 2018.

Bitcoin will only face resistance at $ 28,000 according to Max Keizer

Bitcoin pioneer Max Keizer says Bitcoin is barely facing resistance and that $ 20,000 will not be difficult to decipher. In his recent tweet, Keizer states that Bitcoin is only facing resistance at $ 28,000, but did not explain why exactly at that level.

Of course, not everyone agreed, but it's definitely true that Bitcoin isn't facing much opposition right now. The last time BTC jumped to $ 20,000 was primarily due to FOMO (Fear of missing something). Right now, Bitcoin has stronger fundamentals like Grayscale, a major trust fund, which buys massive amounts of Bitcoin.

No one really knows if Bitcoin is going to get $ 20,000 back again, however by most long-term metrics it appears that the digital asset has a bright future.

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