Bitcoin Price Target Must Be Over $8,200 For A Bullish Run: Analyst

The recent rally and correction on the market sparked a lot of discussion in the cryptocurrency world. According to many analysts, the Bitcoin price target is not yet stablished and the buying pressure is maintaining the price of BTC – the latest cryptocurrency news show.

Although Bitcoin’s surge back above $8,000 is definitely a positive sign for the market, the next BTC price target must be over $8,200 in order for the most dominant coin to initiate another bullish run.

Analysts featured by many best cryptocurrency news sites are now noting that the price of Bitcoin must continue to surge and close above $8,200 or the bullish momentum may stall and potentially lead to another pullback.

Since the Bitcoin price target has not been that clearly defined over the past weeks, it is highly likely that a pullback is on the corner. If we see realistically, Bitcoin has not been able to break above its next resistance level that exists around $8,200 which is a major level for altcoins too, as the coming altcoin news show.

One of the popular cryptocurrency analysts sharing his Bitcoin price target predictions on Twitter was Josh Rager. He discussed the importance of the $8,200 level in a recent tweet, explaining the following:

“$BTC Update: Meme triangle currently holding Bitcoin in same formation. Pair with horizontals to see big picture, want to see Bitcoin close above $8203 on daily to feel bullish. Otherwise, consolidation continues and is natural after a strong price push up over past few months.”

https://twitter.com/Josh_Rager/status/1131969608305582080

Since Bitcoin is again near a key price region, there is a strong possibility that a large move is coming in the near future. According to Chonis Trading who is another popular cryptocurrency analyst on Twitter, BTC can make a big move tomorrow based on its fractal formations.

“$BTC – ‘Fib Time Zones’ have been pointing to a major #bitcoin move on May 25th which is tomorrow,” he said.
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$BTC – “Fib Time Zones” have been pointing to a major #bitcoin move on May 25th which is tomorrow… pic.twitter.com/32O10z39a7

— BIG Chonis (@BigChonis) May 24, 2019

Mati Greenspan joins the list of analysts discussing the Bitcoin price target predictions. He noted that he believes a small move is all that Bitcoin needs for a bigger price movement

“At this point, a $200 move in the price of bitcoin could easily lead to a move of $2,000,” Greenspan wrote on Twitter.

At this point, a $200 move in the price of bitcoin could easily lead to a move of $2,000. $BTC

— Mati Greenspan (@MatiGreenspan) May 24, 2019