Bitcoin Breaks Out Above $12,000 — Legitimate or Fakeout Rally?

On Aug 17, the Bitcoin (BTC) price created a bullish engulfing candlestick and broke out above its previous high. While the breakout looks legitimate, it is not yet clear if there is enough buying power for BTC to continue making higher-highs. Bitcoin’s Questionable Breakout On Aug 2, the Bitcoin price reached a high of $12,123 but dropped sharply the same day. Since then, the $12,000


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