Share this article
Bitcoin Price Must Clear $6,800 for Range Breakout
Bitcoin's prolonged period of consolidation could end with an upside break if prices clear key resistance at $6,800.
Updated Sep 13, 2021, 8:27 a.m. Published Oct 4, 2018, 11:03 a.m.
With bitcoin stuck in a narrow trading range for the 13th day in a row, the bulls need to force a move above $6,800 to confirm a breakout, according to the technical charts.
BTC has been restricted to a narrow range of $6,800 to $6,500 since Sept. 22 and this lack of clear directional bias has pushed the volatility reading to a 21-month low.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The daily volatility as represented by the Bollinger bandwidth – a technical analysis tool derived by dividing the gap between the Bollinger bands by price's moving average – has dropped to 0.078, its lowest level since December 2016.
A prolonged period of low volatility often paves way for a big move in either direction. So, it seems safe to say that BTC could soon witness a bullish or bearish breakout (though we have been saying this for a while now, and the big move is still to come).
At press time, the leading cryptocurrency is trading at $6,600, representing a 1.65 percent gain on the day.
Daily chart
The Bollinger bands (standard deviation of +2, -2 on the 20-day moving average) are moving in a sideways manner, indicating there is no clear trend in the bitcoin market.
For a bull breakout, BTC's price needs to find acceptance above the upper Bollinger band of $6,800. On the other hand, a move below the lower band at $6,290 would see the bears take charge.
Right now, the prospects of a downside break appear highest, as the cryptocurrency is again struggling to clear the 50-day exponential moving average (MA), currently located at $6,640.
View
- The immediate outlook remains neutral as long as BTC is trapped between the Bollinger bands.
- A UTC close above the upper Bollinger band of $6,800 would confirm a bullish breakout and would open up upside towards the September high of $7,429.
- A break below the lower Bollinger band of $6,290 would shift risk in favor of a re-test of the June low of $5,755.
Disclosure: The author holds no cryptocurrency assets at the time of writing.
Bitcoin image via Shutterstock; Charts by Trading View
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
ICP extends recovery to rise above $3; trading volume increases without spiking
Internet Computer pushed through the $3 level as steady buying demand lifted the token, with traders watching whether momentum can hold above former resistance.
What to know:
- ICP rose above $3, extending a short-term rebound from recent lows.
- Trading volume increased while remaining consistent with gradual positioning rather than aggressive accumulation.
- The former resistance area around $3 is now the key level to watch for near-term direction.
Top Stories
