Bitcoin (BTC) has incurred a large amount of buying pressure over the past couple of days that has allowed it to climb well into the $8,000 region, which appears to have signaled that the cryptocurrency\u2019s bulls are not yet ready to surrender their control of the crypto.<\/p>\n
Bitcoin\u2019s recent bullishness has allowed the crypto to maintain above a long-term trendline that has held over the past seven years, which may signal that significantly further bullish momentum is imminent in the near-future.<\/p>\n
At the time of writing, Bitcoin<\/a> is trading up nearly 3% at its current price<\/a> of just below $8,400 and is up significantly from its 24-hour lows of $8,150 that were set yesterday.<\/p>\n Over a one-week period BTC has been able to recover from lows of $7,585, which is a price point at which the crypto garnered a notable amount of support that sparked the recent rally.<\/p>\n Bitcoin is now once again approaching<\/a> the mid-to-upper $8,000 region, which has proven to be a strong region of resistance that has sent BTC reeling lower on several occasions over the past month, which may continue to persist unless it incurs a massive amount of buying pressure in the near future.<\/p>\n Luke Martin, a popular cryptocurrency analyst on Twitter, explained in a recent tweet that BTC may be posed to surge to $9,800 if it is able to climb back above $8,400.<\/p>\n \u201cThe $BTC chart is probably the most exciting chart on my watchlist going into the weekend. If price can reclaim 8400 I would be convinced that the trend higher is ready to resume. After that confirmation I would be aiming for 9800,\u201d he explained.<\/p><\/blockquote>\n The $BTC<\/a> chart is probably the most exciting chart on my watchlist going into the weekend.<\/p>\n If price can reclaim 8400 I would be convinced that the trend higher is ready to resume. <\/p>\n After that confirmation I would be aiming for 9800. pic.twitter.com\/2Kw0cFlHsm<\/a><\/p>\n — Luke Martin (@VentureCoinist) June 14, 2019<\/a><\/p><\/blockquote>\n\n