Bitcoin Incurs Bullish Momentum as Analysts Set Short-Term Target at $9,000

Bitcoin has been able to extend the upwards momentum that it has incurred over the past day, which has allowed it to gain what appears to be a solid foothold within the mid-$8,000 region. This foothold may allow bulls to begin pushing the cryptocurrency higher, although it is important to note that BTC is still caught in a firm downtrend in the mid-term.

This trend may soon be shifting, however, as analysts are now noting that BTC may target $9,000 in the near-future, with any movement to over $10,000 marking a full recovery from its drop below the lower boundary of the previously established descending triangle that it had been caught in for several months.

Bitcoin Climbs into Mid-$8,000 Region as Bulls Build Strength 

At the time of writing, Bitcoin is trading up over 2% at its current price of $8,400, which marks a notable recovery from its recent lows of $7,800 that were set late-last week when the aggregated crypto markets incurred a sharp sell-off that was quickly bought up by…