For the time being, Bitcoin (BTC) has stabilized, finding itself trading in no man’s land around $8,500 over the past day. If the cryptocurrency begins to make a move on $8,700, however, analysts are sure that things will start to heat up once again, giving BTC the momentum to push higher in yet another massive leg to the upside.
Related Reading: Why All Bitcoin and Crypto Investors Should Consider U2F Security Keys
Bitcoin Needs To Reclaim $8,700
Just days ago, we saw Bitcoin experience a crazy bout of price action, trading between $8,000 and $9,100 within a six-hour time frame. Although BTC briefly tapped $9,100, breaking above the key $9,000 resistance level for a split-second, this surge ended up turning out bearish for the cryptocurrency market. After the aforementioned level was reached, BTC plummeted by $1,000 in the hour that followed, negating last weekend’s breakout.
Related Reading: Ethereum: Despite Recent Bearishness, ETH Still Has Incredibly Strong Fundamentals
But, after the sell-off, which almost resembled a flash crash, cooled, bulls began to take control of the wheel yet again. As of the time of writing, BTC sits at $8,550 and is currently trending higher in the short term.

Zoomed in version.
You want this retest to hold and we’ll head to the 618. $BTC pic.twitter.com/9hyTcPiEdv
— ₿-Eazy <img src="https://s.w.org/images/core/emoji/11.2.0/72×72/1f4a5.png" alt="

/* */ #screenshot{ position:absolute; border:1px solid #ccc; background:#333; padding:5px; display:none; color:#fff; } /* */

– – – – –

Thank you for Share!

   

DEJA UNA RESPUESTA

Please enter your comment!
Please enter your name here