Bitcoin is trading in a . It is also trading under 20-day and 50-day .
Today the price is affected by the inside the channel.
If Bitcoin manages to break out the , it may go to $12000 target which is also the upper resistance of the channel. Any fresh long position should be opened on a breakout of the .
Conversely, If any new dips happen we should look for the previous low around $5800 to go long, as long as it is not broken down.