After an extended period of sideways trading, Bitcoin and the aggregated crypto markets have been able to surge today, which has allowed BTC to break above its previously strong resistance level that existed at $8,000.
Although this upwards surge is certainly bullish, Bitcoin does still face some resistance around $8,200, but a break above this level could quickly lead the cryptocurrency to once again surge towards the upper-$8,700 region.
Bitcoin Smashes Past $8,000 as Upwards Momentum Builds
Ever since earlier this month, BTC has struggled to climb back into the $8,000 region and appeared to have been forming a consolidation pattern that some analysts had expected to persist for the foreseeable future.
Despite this, today’s upwards surge appears to have marked an extension of the upwards momentum that the crypto has incurred over the past couple of months, which could ultimately lead BTC to continue climbing higher.
Josh Rager, a popular cryptocurrency analyst on Twitter, discussed the importance of BTC’s latest move upwards, explaining that a break above $8,200 could send it surging to the