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Bitcoin Price Retests $8,000 Following 21.37% Drop – Is $11,000 Next?

Bitcoin Price Retests $8,000 Following 21.37% Drop – Is $11,000 Next?
Bitcoin has made a come back following three days of depressive price movements that led to a 21.37 percent drop.
The world’s leading cryptocurrency started Sunday while trending in positive territory. The asset’s rate against the US dollar surged by circa 11 percent to settle a session high at $8,041 on Coinbase exchange. The move brought approximately $12 billion to the bitcoin market, with maximum influx coming from Tether’s stablecoin USDT. Nonetheless, the uptrend slowed down ahead of the European session, hinting that a downside correction might still be underway.
Bitcoin Price Revives Bullish Sentiment upon Retesting $8,000 | Image Credits: TradingView.com
Next Upside Target between $9,200-$11,000
Josh Rager, a prominent cryptocurrency analyst, saw the bitcoin price breaking a critical resistance level. The US-based market expert said the asset is looking to close above $8,216 in near-term to validate an extended bullish bias. He predicted that bitcoin would establish an upside target of $9,600 or more.
“Bitcoin certainly looks to be pumping, now over previous resistance,” said Rager. “Price is near $8000 & looks to be heading toward the $8200 1D resistance (might consolidate prior). A close above $8200 on the daily/weekly would be very bullish and would target $9,600 [or beyond].”

$BTC – 1 Hour Chart
Bitcoin certainly looks to be pumping, now over previous resistance
Price is near $8000 & looks to be heading toward the $8200 1D resistance (might consolidate prior)
A close above $8200 on the daily/weekly would be very bullish and would target $9600+ pic.twitter.com/8S1qmjR56e
— Josh Rager 
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