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.<\/p>\n
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.<\/p>\n
At the time of writing, Bitcoin<\/a> 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.<\/p>\n 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.<\/p>\n It now appears that Bitcoin\u2019s 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.<\/p>\n Josh Rager, a popular cryptocurrency analyst on Twitter, discussed the importance<\/a> of a break above the $8,800 region in a recent tweet, noting that BTC may soon surge into the mid-$9,000 region.<\/p>\n \u201c$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,\u201d Rager noted.<\/p><\/blockquote>\n https:\/\/twitter.com\/Josh_Rager\/status\/95132160<\/p>\n Assuming that Rager\u2019s assessment of Bitcoin\u2019s future price action is accurate, the cryptocurrency may soon see fresh year-to-date highs as the new week kicks into gear.<\/p>\n Rager is not alone in his bullish assessment of Bitcoin, as another prominent analyst also believes that the crypto may soon surge past $9,000.<\/p>\n Peter Brandt, a prominent analyst who covers a wide variety of assets, discussed BTC in a recent tweet, noting that his initial target for the crypto exists at just above $9,300.<\/p>\n \u201c$BTC appears to be stabilizing after the 12% break on Thursday. I am willing to dip by toes back in the water,\u201d he noted earlier this week.<\/p><\/blockquote>\n $BTC<\/a> appears to be stabilizing after the 12% break on Thursday. I am willing to dip by toes back in the water. pic.twitter.com\/wjoPKfY34c<\/a><\/p>\n — Peter Brandt (@PeterLBrandt) May 31, 2019<\/a><\/p><\/blockquote>\nProminent Analyst: BTC Likely to Surge Towards $9,300 Next<\/strong>\u00a0<\/strong><\/h2>\n
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