Although Bitcoin faced some levels of downwards pressure earlier this week, it has since been able to recover and appears to be continuing to extend the upwards momentum it has incurred over the past several weeks.
Now, Bitcoin is only a stone’s throw away from setting fresh year-to-date highs, and one analyst is quick to note that it may soon surge past the important resistance level around $9,000, assuming it is able to continue climbing past $8,800.
Bitcoin Finds Strong Support in Lower $8,000 Region
At the time of writing, Bitcoin is trading up over 2% at its current price of $8,715 and is only down slightly from its daily highs of $8,800, which were set earlier today.
It is important to note that BTC is up significantly from its recent lows of just below $8,200 which were set earlier this week after the cryptocurrency rapidly surged towards $9,000 before it incurred significant selling pressure that sent it reeling lower.
It now appears that Bitcoin’s next key level of resistance remains in the $8,800 region, and a break above this level could lead to an influx of buying pressure that sends it surging to fresh year-to-date highs.
Josh Rager, a popular cryptocurrency analyst on Twitter, discussed the importance of a break above the $8,800 region in a recent tweet, noting that BTC may soon surge into the mid-$9,000 region.
“$BTC bullish price action: Bitcoin held support at $8530 and pushed past the previous resistance at $8731. Next target break above $8846 and Bitcoin is off to mid $9ks. Long term trendline from May has held as support (dotted line) watch this to hold as support moving forward,” Rager noted.

$BTC bullish price action
Bitcoin held support at $8530 and pushed past the previous resistance at $8731
Next target break above $8846 and Bitcoin is off to mid $9ks
Long term trendline from May has held as support (dotted line) watch this to hold as support moving foward pic.twitter.com/ufjVAhv9To
— Josh Rager <img src="https://s.w.org/images/core/emoji/11.2.0/72×72/1f4c8.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