Bitcoin (BTC) bulls push the price to the highest level since July 2018

Bitcoin price in the latter stages of trading on Monday is pushing further to session highs, gains of over 11%.
BTC/USD has jumped to the highest level seen since July 2018.

Ken Chigbo Independent Analyst

The Bitcoin price is extending to the upside printing fresh sessions highs, as it looks to solidify the $8000 price return. It is trading up to a big double-digits on the day, up some 11% at the time of writing, as the bulls maintain their strong upside momentum.

BTC/USD has pushed up to the highest levels that have been seen since July 2018. The price is now up a whopping 130% since the start of 2018, most certainly solidifying that the price is well within a solid recovery mode.

The market bulls are eyeing the next major target area, between $8000-8500, the July 2018 high region. Should there be enough buying interest to take the price back through the noted barrier, then there could be a fast return to $10,000.

BTC/USD weekly chart

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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