RATE Group | Bitcoin Price Strong at $8,300, May Be Ready to Bound Higher
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Bitcoin Price Strong at $8,300, May Be Ready to Bound Higher

02 Oct Bitcoin Price Strong at $8,300, May Be Ready to Bound Higher

Posted at 01:13h in Bitcoin News by

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Bitcoin Retakes $8,300

After a precipitous drop to $7,700 this weekend, Bitcoin (BTC) bulls have managed to reclaim some ground on Monday and Tuesday.

While the cryptocurrency market hasn’t flipped decidedly bullish yet — BTC remains below some key moving averages and support levels — analysts say that Bitcoin is momentum. In fact, it is up a few percentage points in the past day, having found some support at $8,300.

Despite not showing the qualities of a fully-fledged bullish reversal, analysts say that this recent bounce is a sign of good things to come. Whether or not this materializes in an imminent move to fresh all-time or year-to-date highs remains to be seen, however.

Upward Trend Forming, Analysts Suggest

Macro investor and gold proponent Dan Tapiero recently pointed out that the Bitcoin price chart has printed a massive bull signal. In a tweet, the institutional investor noted that the TD Sequential indicator, which is a time-based technical indicator, has drawn a buy 9…

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