Bitcoin has seen today some intense volatility that occurred after the price of the cryptocurrency rose past $10,000 before being further sharply rejected and led back into the region of $9,000.
This price action has once again caused BTC to fall into the same consolidation channel as it used to be, and its mid-term trend is still unclear.
This latest instability has been the most latest in a sequence of so-called "Darth Maul" candles coordinated in an effort to remove over-released positions.
Now BTC now seems to be working hard to shatter a trend that has led to a lower trend over several years and analysts see how it reacts to a number of key moveable averages for an insight into the next trend.
One trader also notes that one technical trend suggests that Bitcoin is able to see a big upside is a teeth on the verge of reaching a full-flowing bull market.
Bitcoin fight against a trend for multi-year pressures
At the time of publishing, Bitcoin traded at its current price of $9,870 just under 1 percent. This represents a notable improvement of less than $9,700 a day, but a small drop from less than $10,100 a day.
The stresses between BTC's current price and its main $10,500 high time frame resistance have proved to be three times in the last six months insurmountable. An analyst addressed the value of $9.820 and clarified it it marks the upper end of a trading range that has been established over the last 43 days.
The same analyst also noted that the downward trend of three years underlying the crypto exists at around $10,500. He assumes that a solid and definitive break above that point could bring Bitcoin up to $13,800 for 2019.
This key indicator is about to post a bull trend signal BTC
In addition to the over-strength indicators for the above reasons, the cryptocurrency benchmark could also be at the cusp of rallies based on the signal of a bull trend to its Gann Fan.
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