Bitcoin’s (BTC) rally from its February 6 low just above $6,000 continues but is showing signs of exhaustion as it trades in and around the second price zone between $10,700 and $11,700. The recent run of ‘higher lows’ remain intact but the last three daily candles may indicate that a period of consolidation is on the cards before the digital token pushes further ahead. A clear break and close above this zone would open the way to the next Fibonacci retracement level of the November –December move at $12,690, our near-term target.
