Bitcoin has been experiencing a very boring bout of sideways trading for the past several days and weeks, which has come about shortly after the crypto\u2019s meteoric run from lows of $7,300 to highs of $10,600 \u2013 which marked one of the largest single-day movements ever experienced by the cryptocurrency.<\/p>\n
Now, analysts are anticipating another large movement in the near-future for the crypto, and several indictors may point to the possibility that this movement will favor BTC\u2019s bulls.<\/p>\n
At the time of writing, Bitcoin<\/a> is trading up just under 2% at its current price<\/a> of $9,300, which marks a significant surge from its daily lows of $9,100 that were set yesterday.<\/p>\n It is important to note that Bitcoin is squarely in the middle of the trading range between $9,000 and $9,500 that it has been caught in for the past couple of weeks, but analysts anticipate this period of consolidation to quickly come to a close.<\/p>\n Jonny Moe, a popular cryptocurrency analyst on Twitter, spoke about this in a recent tweet, referencing the key price levels that lie directly above the crypto\u2019s current price, and further noting that he is \u201cready for fireworks\u201d<\/p>\n \u201c20 Week SMA: $9825 -Resistance- Current Price: $9300 -Support- 200 Day SMA: $9100. Ready for fireworks one way or the other. $BTC\u201d He explained.<\/p><\/blockquote>\n 20 Week SMA: $9825 Ready for fireworks one way or the other.$BTC<\/a><\/p>\n — Jonny Moe (@JonnyMoeTrades) November 4, 2019<\/a><\/p><\/blockquote>\n\n
-Resistance-
Current Price: $9300
-Support-
200 Day SMA: $9100<\/p>\n