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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Technical Indicator Signals Bitcoin May Rally to $9,300 Next

Cole Petersen
Cole Petersen
1 year ago
2 mins read
Bitcoin BTC

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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’s inability to break above $8,400 overnight may signal that this region is a growing level of resistance.

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.

Bitcoin Consolidates, But Mid-Term Trend May Soon Grow Clear

At the time of writing, Bitcoin is trading up marginally at its current price of $8,325, which marks a slight retrace from its daily highs of just over $8,400 that were set overnight.

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.

Josh Rager, a popular cryptocurrency analyst on Twitter, discussed this lack of direction in a recent tweet, explaining that it leaves him feeling “bear biased.”

“$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,” he said while pointing to the below chart.

https://twitter.com/Josh_Rager/status/1183800737383550976

Technical Indicator Favors BTC’s Bulls

Josh Olszewicz, another popular cryptocurrency analyst on Twitter, recently explained that BTC’s Kijun clouds currently pointing to the possibility that Bitcoin will visit $9,300 next.

“$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,” he said.

$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 pic.twitter.com/7Pe8c5JOe4

— #333kByJuly2025 (@CarpeNoctom) October 15, 2019

If Bitcoin does begin climbing higher in the near-term, it is highly likely that the upper-$8,000 region will once again prove to be a level of resistance, as it recently surged to this level before incurring a swift influx of selling pressure that sent it reeling down.

Featured image from Shutterstock.
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Cole Petersen
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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Strict editorial policy that focuses on accuracy, relevance, and impartiality

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