After incurring an influx of buying pressure yesterday, Bitcoin has been able to sustain its upwards momentum and has not faced any notable retrace in the time since its recent surge, which may point to growing strength amongst BTC\u2019s bulls.<\/p>\n
One prominent cryptocurrency analyst is now noting that he anticipates BTC to see further upside in the near-term, with an initial target existing at roughly $8,400, which he expects to be visited in the coming few hours.<\/p>\n
At the time of writing, Bitcoin<\/a> is trading down marginally at its current price<\/a> of $8,250, which marks a slight surge from its recent lows of $7,900 that were set last week, and BTC\u2019s ability to surge from this price level further confirms it as a notable support region that may ultimately prove to be a long-term bottom.<\/p>\n Over the past several weeks, BTC has consistently found significant resistance within the mid-to-upper $8,000 region, which makes its response to this region in the near-term imperative for determining its near-term trend, as a failure to stabilize within or above this region could mean that further consolidation is imminent.<\/p>\n HornHairs, a popular cryptocurrency analyst on Twitter, shared his thoughts on Bitcoin in a recent Tweet, explaining that he sees multiple bearish signs showing up on its 3-hour chart, which may mean that further downside is imminent.<\/p>\n \u201c$BTC #Bitcoin: Alright let’s see where she lands… bear divs showing up to the 3H. 30 min just swept the high. I’m in,\u201d he said while referencing the below chart.<\/p><\/blockquote>\n $BTC<\/a> #Bitcoin<\/a><\/p>\n Alright let's see where she lands… bear divs showing up to the 3H. 30 min just swept the high. I'm in. pic.twitter.com\/t044cdifFQ<\/a><\/p>\n — HornHairs \ud83c\udf0a (@CryptoHornHairs) October 22, 2019<\/a><\/p><\/blockquote>\n\n