The crypto markets have been in a firm uptrend for an extended period of time now, and many investors are beginning to believe that Bitcoin and the aggregated markets are currently in the early stages of the next big bull run.<\/p>\n
While looking at the markets on a shorter time frame, Bitcoin was able to hold above its key support level after briefly dropping last night, and analysts now believe that the altcoin markets will surge next.<\/p>\n
At the time of writing, Bitcoin<\/a> is trading up marginally at its current price of $8,700, up significantly from daily lows of just above $8,400 that were set last night.<\/p>\n Analysts have recently postulated that the $8,200 to $8,400 region was a key level of support that BTC must hold above in order for its upwards momentum<\/a> to be maintained, so the subsequent rally that followed its brief visit to this region is definitively bullish, and likely signals that the crypto will continue its upwards ascent in the near-future.<\/p>\n While looking at Bitcoin\u2019s current price action, it is apparent that it does face some resistance around its current price levels, as it has struggled over the past week to gain a stable foothold in the upper-$8,000 region.<\/p>\n UB, a popular cryptocurrency analyst on Twitter, shared his thoughts on Bitcoin in a recent tweet, explaining that he believes that BTC is posed to retest its range high in the near-future, which currently exists at roughly $8,900.<\/p>\n \u201c$BTC – Looks decent here. Little fakeout below the EQ before quickly reclaiming it as support. If the EQ continues to act as support, I’ll be looking for a retest of the Range High. $8718 is an Intraday S & R to keep your eye on,\u201d he explained.<\/p><\/blockquote>\n $BTC<\/a> – Looks decent here. Little fakeout below the EQ before quickly reclaiming it as support. <\/p>\n If the EQ continues to act as support, I'll be looking for a retest of the Range High. <\/p>\n $8718 is an Intraday S & R to keep your eye on. #Bitcoin<\/a> pic.twitter.com\/pJwzMxhMLD<\/a><\/p>\n — UB (@CryptoUB) May 29, 2019<\/a><\/p><\/blockquote>\n\n