Bitcoin and the aggregated crypto markets have been able to surge significantly higher in the past 24-hour and BTC now been able to solidify its position within the $9,000 region. This bullish momentum has allowed BTC to set fresh year-to-date highs and will likely lead it into the five figure price region in the near-future.<\/p>\n
Analysts are now noting that Bitcoin is likely to continue surging higher if it is able to hold above $8,740, but they are also explaining that it does face resistance at $9,600.<\/p>\n
At the time of writing, Bitcoin<\/a> is trading up nearly 5% at its current price<\/a> of $9,200, up significantly from 24-hour lows of just above $8,700.<\/p>\n Over a one-week period, BTC is trading up significantly from lows of $7,600, and its latest upwards leg that has pushed its price into the $9,000 region has marked a significant extension of the upwards momentum that the cryptocurrency first incurred in early-April when it began its ascent from under-$4,000.<\/p>\n This momentum, which does appear to be emblematic of a bull market, may ultimately lead BTC to surge significantly higher<\/a> in the near future, and could result in a parabolic upwards movement.<\/p>\n Despite this, BTC does still face several significant resistance levels that may prove to be quite strong.<\/p>\n Alex Kr\u00fcger, a popular economist who focuses primarily on cryptocurrency, spoke about these resistance levels in a recent tweet, explaining that the first one currently exists at $9,600.<\/p>\n \u201c$BTC just traded new year highs. Next major resistance levels: 9600, 10000, 11500-11750, 13000, 15000, 17400, 20000,\u00a0moon,\u201d he explained.<\/p><\/blockquote>\n $BTC<\/a> just traded new year highs. <\/p>\n Next major resistance levels: 9600, 10000, 11500-11750, 13000, 15000, 17400, 20000, moon.<\/p>\n — Alex Kr\u00fcger (@krugermacro) June 16, 2019<\/a><\/p><\/blockquote>\n\n