It\u2019s now abundantly clear that Bitcoin and the aggregated crypto markets are in a firm uptrend, with BTC and other major cryptos posting consistent gains on a weekly basis, with each minor pullback only acting as fuel for further gains.<\/p>\n
Bitcoin has further established that it is in a firm uptrend this past weekend when it surged to highs of nearly $9,000 before settling slightly to its current price levels. According to one prominent analyst, it now appears that BTC doesn\u2019t have any significant resistance until the coveted $10,000 region, which may signal that significantly further gains are imminent.<\/p>\n
At the time of writing, Bitcoin<\/a> is trading down marginally at its current price of $8,730, down slightly from its daily highs of over $8,800.<\/p>\n Over a one-week period, BTC has surged significantly from lows of $7,500, and is showing few signs of any weakness at its current price levels.<\/p>\n It is important to note that although Bitcoin is currently showing a significant amount of strength at its current price levels, it has not been able to break into the $9,000 region yet, which may signal that the cryptocurrency is going to require a significant influx of buying pressure in order for it to extend its upwards momentum.<\/p>\n While looking at the cryptocurrency over a weekly period, it is clear that bulls are currently in full control of Bitcoin, which may mean that a move up to $10,000 is imminent.<\/p>\n Don Alt, a popular cryptocurrency analyst on Twitter, discussed this possibility in a recent tweet, further noting that BTC may drop towards $8,200 before it continues surging higher.<\/p>\n \u201c$BTC weekly: One after the other resistances fall. Two remain 10.000 and 11.500. Once those are cleared, clear skies await. I’ll be looking for leveraged buys in the 8200-8400 area this week. Bulls clearly in control, not trying to fight the trend,\u201d he explained.<\/p><\/blockquote>\n $BTC<\/a> weekly:<\/p>\n One after the other resistances fall. Bulls clearly in control, not trying to fight the trend. pic.twitter.com\/OeTUHYCa0K<\/a><\/p>\n — DonAlt (@CryptoDonAlt) May 27, 2019<\/a><\/p><\/blockquote>\n\n
Two remain 10.000 and 11.500.
Once those are cleared, clear skies await.
I'll be looking for leveraged buys in the 8200-8400 area this week.<\/p>\n