Bitcoin Price Forecast: BTC / USD Next Target 2017 High at $ 20,000

Bitcoin Price Forecast: BTC / USD Next Target 2017 High at $ 20,000

• Bitcoin is climbing above the $ 11,800 support even if the $ 12,000 resistance remains solid.
• BTC / USD is still in the bullish phase despite the delayed breakout at the higher levels of $ 12,500 and $ 13,000.

The PlanB S2F model suggests that Bitcoin's next level will reach $ 20,000. Bitcoin price action is still limited to below $ 12,000 for the third week in a row. As the bears continued on their way, the struggle to maintain gains above this level became stubborn. Last week, Bitcoin refreshed its levels to $ 11,000 and recovered, bringing the price closer to $ 12,000. BTC / USD hit a $ 11,950 barrier that led to continued bearish movements. The limited price action on Bitcoin has not stopped the crypto community from making bold predictions for the main cryptocurrency, and popular analyst PlanB stated that BTC has set a target to reach an all-time high of $ 20,000 in 2017. Bitcoin is currently trading at $ 11,835. Buyers are working hard to secure the $ 11,800 support. Consolidation above this support will allow the bulls to gather strength at $ 12,000 for another attack on the barrier. The 4-hour chart shows the formation of a rising triangle pattern. The anticipated breakout continued to delay due to the $ 12,000 seller congestion. However, buyers hold firmly in the hope that it will be significant enough to eventually pull Bitcoin above $ 12,500 and close at $ 13,000.