For the umpteenth time in a few weeks, Bitcoin (BTC) bulls have managed to wrestle bears out of the ring. The asset has moved back up to $8,150, and looks poised to head higher.
But as Josh Olszewicz of Brave New Coin recently pointed out, an indicator may be signaling that Bitcoin is poised for a pullback. In a recent tweet, Olszewicz pointed out that the Kijun band of the Ichimoku Cloud, a series of technical indicators coagulated to determine trends, key levels, and reversal levels, is now 30% away from price levels. The last time such a delta was seen, BTC spiked. The thing is, that’s when the price was 30% under the Kijun band.