Bitcoin Reclaims Support Level as Analysts Eye Further Gains

News BTC | Oct 19, 2019 at 6:00 PM
  • After struggling to break above $8,000 for the past several days, Bitcoin was once again able to find some support within the upper-$7,000 region that held strong and allowed BTC to move back up above $8,000.
  • Analysts are now noting that the cryptocurrency may climb higher in the near-term but are also noting that a resistance level that is just a short way above BTC’s current price may halt this fleeting rally and send the crypto plunging back below $8,000.
  • This slight surge further confirms the long-established notion that the upper-$7,000 region is a strong region of support, as BTC as consistently found notable buying pressure in this region.