The series alternates between two patterns: 12-4=8, 8+6=14, 14-8=6, 6+10=16. The subtractions are 4, 8, ... and additions are 6, 10, ... The next step is 16-12=4.
Separate the series into two alternating patterns: the first pattern increases by adding 2 (12, 14, 16), while the second pattern decreases by subtracting 2 (8, 6). The next term belongs to the second pattern, so it is 6 - 2 = 4.