Bitcoin approaching $8,200: what traders are saying

12 Jun, 2019
by Richard Allen
Price Analysis
Bitcoin approaching $8,200: what traders are saying

With Bitcoin unexpectedly rising 3.5% in a matter of minutes, many traders and analysts have shared their thoughts and predictions on what Bitcoin might do next and how far this price spike will take us.

Josh Rager, a prominent crypto trader shared his thoughts on Bitcoin’s price action. He notes that while Bitcoin has broken its two-week resistance and currently testing $8,200, its currently facing resistance at the top of the channel. If it can break through, however, Rager sees BTC going to $8,550 and beyond.

Similarly, analyst Jesse Feinberg, also known as Darth Crypto, has tweeted that he’s 77% confident we’ll see Bitcoin go to $10,000 before $7,000. Similar to Rager’s prediction, one user commented on Feinberg's tweet, stating that if BTC can cross $8,300 it will be a straight shot to $10,000.

Twitter user Dr. Squeeze tweeted that while Bitcoin is showing some nice movement, we won’t be out of the woods until it breaks through $8,400.

Crypto trader going by the Twitter handle Tradermayne suggested that the region of $8,400 - $8,500 is an area with “a lot of important s/r confluence,” and that anything above that might “get picante.”

Overall, crypto Twitter is certainly bullish on Bitcoin’s prospects:

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