Bitcoin looks too weak to break the 12000.0 - 13000.0 zone now
The market loses momentum near the 12000.0 level; the volumes are falling which suggests that bulls are waiting for the retracement to buy cheaper.
Retracement level that does not violate the bullish scenario ends at the 10000.0 level (approximately 61,8% of the last uptrend impulse 9300.0 - 11700.0).
So, if the buyers will come back on the Trend Lines or at least near the 10000.0 level (volumes will jump up as well), then there is a reason to consider further uptrend and testing of the Neckline resistance. Otherwise, I would consider a prolonged lateral movement in the 9000.0 - 12000.0 corridor.
Retracement level that does not violate the bullish scenario ends at the 10000.0 level (approximately 61,8% of the last uptrend impulse 9300.0 - 11700.0).
So, if the buyers will come back on the Trend Lines or at least near the 10000.0 level (volumes will jump up as well), then there is a reason to consider further uptrend and testing of the Neckline resistance. Otherwise, I would consider a prolonged lateral movement in the 9000.0 - 12000.0 corridor.
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