Bitcoin on its way to retest $8,200 as bulls deny bearish pullback

07 Jun, 2019
by Joeri Cant
Price Action
Bitcoin on its way to retest $8,200 as bulls deny bearish pullback

The world's most popular cryptocurrency continues to defy the recent bearish warnings, as it leaps once again above the psychologically-important $8,000 price mark.

After Bitcoin endured a brutal correction that smacked its price to a level as low as $7,432, more than 18% down from its 2019 peak of $9,096, BTC has entered once again the $8,000 region, and is continuing to show an impressive gain of 4.89% on the day.

BTC popped as high as $8,100 to a four-day high and boosted its market cap up to $143,5 billion.

The total market cap is currently sitting at $259,4 billion.

BTC/USD chart provided by Tradingview

As Bitcoin appears to be pushing bullish sentiment once again, many analysts appear to assume that BTC is ready to restest the $8,200 price mark.

Trader Josh Rager, points out that the bullish resistance levels, flipped upside down to support levels. 

'A break and close above $8200s would bullish for a further move up to high $8ks', he tweeted.

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Read more about: Bitcoin (BTC)


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