RATE Group | Bitcoin Incurs Notable Buying Pressure at $8,200 Despite Lack of Momentum
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Bitcoin Incurs Notable Buying Pressure at $8,200 Despite Lack of Momentum

05 Oct Bitcoin Incurs Notable Buying Pressure at $8,200 Despite Lack of Momentum

Posted at 06:02h in Bitcoin News by

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Bitcoin has prolonged its bout of sideways around its key near-term support level at $8,200 and has continued showing some signs of underlying bearishness as BTC’s bulls fail to push it higher in the near-term.

Importantly, analysts are noting that Bitcoin is currently building significant support just below its current price level, which could mean that its bulls are building strength and will lead the crypto higher in the coming days and weeks.

Bitcoin Trades Flat as Bulls and Bears Remain Locked in Battle

At the time of writing, Bitcoin is trading down marginally at its current price of $8,200, which marks a slight rise from its daily lows of $8,100.

It does appear that Bitcoin is currently caught within an incredibly tight trading range between roughly $8,100 and $8,300, which is the price range that the crypto has been trading within for the past several days.

It does appear that the $8,100 region has become a critical support level for BTC in the time since it bounced from its…

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