Bitcoin Price Weekly Analysis – Can BTC/USD Break $12,000?

Key PointsBitcoin price is slowly moving higher and is currently trading above $11,000 against the US Dollar.
There was a break above a monster bearish trend line with resistance at $11,000 on the 4-hours chart of the BTC/USD pair (data feed from SimpleFX).
The price is likely forming a solid support base above the $10,500 level, which can be seen as a pivot level.Bitcoin price is preparing for further gains above $12,000 against the US Dollar. BTC/USD is now well supported on the downside at $1