Bitcoin (BTC) has incurred increased volatility as of late, which was first sparked when it briefly touched $9,400 before surging to highs of $10,800, which is the price at which it faced some levels of resistance.<\/p>\n
Analysts are now noting that BTC is still trading within a long-established wide trading range, and that its mid-term trend remains unclear until it breaks through either the upper or lower boundaries of the aforementioned trading range.<\/p>\n
At the time of writing, Bitcoin<\/a> is trading down nearly 2% at its current price<\/a> of $10,450 and is still up significantly from its recent lows of roughly $9,400 but is down slightly from its recent highs of just under $10,800 that were set yesterday.<\/p>\n It is important to note that this recent price action has done little to clarify what type of trend Bitcoin is currently in, as the crypto has continued trading between a relatively wide trading-range that has been established for many weeks.<\/p>\n Alex Kr\u00fcger, a popular crypto analyst on Twitter, spoke about this trading range<\/a> in a recent tweet, explaining that although BTC is more bullish now than it has been in recent times, its bullishness is still tempered unless it can break above $10,800.<\/p>\n \u201cThis $BTC analysis is still valid. Two weeks later, price is at the same level after tossing bulls and bears around even further within the range. However, chart is now more bullish given last week’s new bears, now trapped. Key level above is 10,800. Expect next test to break,\u201d he explained while referencing a previous tweet.<\/p><\/blockquote>\n This $BTC<\/a> analysis is still valid. Two weeks later, price is at the same level after tossing bulls and bears around even further within the range. However, chart is now more bullish given last week's new bears, now trapped. Key level above is 10,800. Expect next test to break. https:\/\/t.co\/dzdD6k9cMF<\/a><\/p>\n — Alex Kr\u00fcger (@krugermacro) September 4, 2019<\/a><\/p><\/blockquote>\n\n