Bitcoin and the aggregated crypto markets have been incurring significant volatility as of late, and much to the chagrin of bears, most of this volatility has been positive over the past several days — with BTC posting a strong recovery from its recent lows of $9,500.<\/p>\n\n\n\n
Bitcoin is now pushing up against what one analyst describes as a \u201cheavy resistance zone\u201d that may prove to be insurmountable \u2013 but if BTC does manage to break above this level, it may soon set fresh year-to-date highs.<\/p>\n\n\n\n
At the time of writing, Bitcoin<\/a> is trading up nearly 4% at its current price<\/a> of $10,780, which marks a major extension of the momentum that BTC first gained when it tapped lows of $9,500 after a bout of capitulation last Wednesday.<\/p>\n\n\n\n Over the past 24-hours, Bitcoin has been able to climb significantly from lows of $10,300, but it is highly probable that it will face strong resistance at $11,000, which may slow its upwards ascent.<\/p>\n\n\n\n Josh Rager, a popular crypto analyst on Twitter, explained in a recent tweet that Bitcoin\u2019s ability to hover around its key resistance levels may prove to be a bullish thing, saying:<\/p>\n\n\n\n \u201c$BTC Update: Tapping yet another time at resistance, this tends to be bullish when price hovers around resistance for multiple tests. I want to see price push up over $11k again for with lower highs on the trend of lower time frames.”<\/p>\n\n\n\n