Bitcoin has been able to establish some stability after experiencing massive volatility earlier this week, and it is beginning to look as though the $8,000 region could potentially be a support level that allows BTC to continue climbing higher in the near-term.<\/p>\n
Importantly, analysts are noting that BTC\u2019s recent stability, in combination with yesterday\u2019s CME futures expiring, could point to the possibility that a movement up towards $9,000 is imminent.<\/p>\n
At the time of writing, Bitcoin<\/a> is trading up nearly 2% at its current price<\/a> of $8,185, which marks a notable climb from its daily lows of under $7,900 that were set yesterday.<\/p>\n Each time that BTC<\/a> has dipped below $8,000 it has been met with significant buying pressure that has allowed its price to bounce back above $8,000, and it now appears to be caught within a consolidation range around its current prices.<\/p>\n As for how this period of consolidation will end, Financial Survivalism, a popular crypto analyst on Twitter, explained that he believes BTC is primed for a bounce, which could mean that it will reverse its recent downtrend and start climbing higher in the near-term.<\/p>\n \u201cIn yesterday’s podcast I explained why I think that $BTC is ready for a bounce. That was mainly due to the RSI bull div and the ADX rollover. I mentioned that final confirmation would come from a break of the 4-hour Lucid SAR, which just occurred. Now all systems are a go,\u201d he explained in a tweet from yesterday.<\/p><\/blockquote>\n In yesterday's podcast I explained why I think that $BTC<\/a> is ready for a bounce. That was mainly due to the RSI bull div and the ADX rollover. I mentioned that final confirmation would come from a break of the 4 hour Lucid SAR, which just occurred. Now all systems are a go! pic.twitter.com\/4zWRGBVpyy<\/a><\/p>\n — Tyler Coates (@Sawcruhteez) September 27, 2019<\/a><\/p><\/blockquote>\n\n