By Monday morning, the Bitcoin price hit $7,800 \u2014 a level that analysts said would be a “make or break” for the cryptocurrency bull market<\/a>.<\/p>\n However, at the 11th hour, bulls finally made their presence known. As seen above, when all seemed lost \u2014 analysts were expecting a precipitous drop to $6,500 \u2014 Bitcoin finally mounted a recovery.<\/p>\n As of the time of writing this, the cryptocurrency has rallied by 5% to retake $8,250.<\/p>\n While the reversal is not yet set in stone, many analysts are optimistic that this recovery from the important $7,800 level may precede further gains.<\/p>\n CNN-featured analyst Luke Martin, the founder of CoinistResearch, recently noted that if Bitcoin can close some short-term candles (4-hour, 12-hour) above the $8,300 zone, he would expect the bullish momentum to bring BTC to $8,700 to $9,000.<\/p>\n $BTC<\/a> showing some strength to kick off the week. <\/p>\n If price can close above the 8300 zone, I would expect follow through to atleast 8700-9k area. pic.twitter.com\/ZUEctTM1ys<\/a><\/p>\n — Luke Martin (@VentureCoinist) October 7, 2019<\/a><\/p><\/blockquote>\n<\/p>\n
Bitcoin Ready to Head Higher<\/strong><\/h2>\n
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