Bitcoin has continued trading sideways despite attempting to break up overnight, and its inability to garner any clear trend comes as multiple altcoins rally. It is important to note that BTC\u2019s inability to break above $8,400 overnight may signal that this region is a growing level of resistance.<\/p>\n
Analysts are now noting that one prominent technical indicator may signal that significant gains are imminent for the cryptocurrency in spite of the bearish price action it has incurred as of late. It still remains unclear as to whether or not the resistance Bitcoin has found within the upper-$8,000 region will be insurmountable.<\/p>\n
At the time of writing, Bitcoin<\/a> is trading up marginally at its current price<\/a> of $8,325, which marks a slight retrace from its daily highs of just over $8,400 that were set overnight.<\/p>\n It is important to note that both bears and bulls have failed to give BTC any solid trend in either direction, which has led it to consolidate within the lower-$8,000 region for the past couple of weeks.<\/p>\n Josh Rager, a popular cryptocurrency<\/a> analyst on Twitter, discussed this lack of direction in a recent tweet, explaining that it leaves him feeling \u201cbear biased.\u201d<\/p>\n \u201c$BTC update: Currently ranging in between but with the inability to close back above $8375 area after that fake-out to $8800 and lack of volume… Leaves me feeling more bear biased. Sorry, there’s no reason for me to feel bullish anytime soon until this range breaks up,\u201d he said while pointing to the below chart.<\/p><\/blockquote>\n https:\/\/twitter.com\/Josh_Rager\/status\/83550976<\/p>\n Josh Olszewicz, another popular cryptocurrency analyst on Twitter, recently explained that BTC\u2019s Kijun clouds currently pointing to the possibility that Bitcoin will visit $9,300 next.<\/p>\n \u201c$BTC: TK lines on 12h and 1D suggest mean reversion over lower lows. Also known as TK disequilibrium or TK c-clamp. Target = 9.3 based on 12h kumo & 1D kijun,\u201d he said.<\/p><\/blockquote>\n $BTC<\/a><\/p>\n TK lines on 12h and 1D suggest mean reversion over lower lows<\/p>\n also known as TK disequilibrium or TK c-clamp<\/p>\n target = 9.3 based on 12h kumo & 1D kijun pic.twitter.com\/7Pe8c5JOe4<\/a><\/p>\n — #333kByJuly2025 (@CarpeNoctom) October 15, 2019<\/a><\/p><\/blockquote>\nTechnical Indicator Favors BTC\u2019s Bulls<\/strong><\/h2>\n
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