Here's how bitcoin gets to $12,000

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Here's how bitcoin gets to $12,000
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The bitcoin boom is back on, and technical analyst JC O'Hara says the rally is far from over.

The cryptocurrency has risen 46% this year, pulling back above $10,000 this week for the first time since September."When we look at cryptos as a whole, they tend to trade in two distinct phases. The first being dormant consolidation, which is followed by phase two, which is a high-momentum phase," O'Hara told CNBC's "

Bitcoin was trading at $10,100 on Thursday morning. A move to $12,000 implies 18% upside from current levels. It briefly topped that level last summer.

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