RATE Group | Why Bitcoin Price Is On Its Way to $7,900 From Here: Analyst
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Why Bitcoin Price Is On Its Way to $7,900 From Here: Analyst

22 Dec Why Bitcoin Price Is On Its Way to $7,900 From Here: Analyst

Posted at 21:10h in Cryptocurrency News by

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Over the past few hours, Bitcoin (BTC) has finally started to show signs of life. After trading in a literal $100 range for over 24 hours, the cryptocurrency broke higher just recently, with bulls stepping in as the week comes to a close.

As of the time of writing this, the top cryptocurrency is trading for $7,340, seemingly poised to break higher as these levels hold. Indeed, a prominent trader suggests that Bitcoin could surge another 8% in the coming days, citing a simple technical analysis-backed reasoning.

Bitcoin Ready to Jump 8%?

According to Crypto Birb, this move moves BTC above the key mid-range zone of the trading range for the past five weeks — the range being $6,400 to $7,900. This, the analyst wrote, implies that the cryptocurrency is on its way to the range highs of $7,900 — 8% above current price levels — in coming trading sessions, meaning the next days or maybe weeks.

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