Price Analysis

Bitcoin (BTC) Continues to Struggle; Falls to $8,300 Now

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  • Bitcoin loses 4.34% to be placed near 8,300 USD.
  • The next support may come at 8,293 USD.

Bitcoin continued to struggle in a queue for the second day. Over the last 24 hours, it has been down by 4.34%, and the BTC price has now fallen to 8300 USD price range. Yesterday, the coin touched at 8,325.40 USD, the lowest point of the day.

Bitcoin Price Analysis

Bitcoin faced its first-ever swing of the day between 01:04 UTC and 08:35 UTC and in these seven and a half hours, it lost 5.60% to touch 8,241 USD. However, it was followed by a hike of 2.35% that added 193 USD and brought the Bitcoin price to 8,447 USD by 14:05 UTC. The next few hours were full of volatile price fluctuations. The last variation came as a strengthening of BTC; it started at 16:07 UTC, and in the next 6 hours and 2 minutes, it grew by 4.53% to be placed at 8645 USD.

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Bitcoin Price
Bitcoin Chart By TradingView

Bitcoin, as the top coin, has started impacting the whole market. Its 20-day average is above its 50 days average and the current price is nowhere to experience a convergence anytime soon. It may seek the support of 8293 USD as its next step.

Support and Resistance Levels

R1– $8,712.74, R2– $8,938.50, R3– $9,132.17

S1– $8,293.31, S2– $8,099.64, S3– $7,873.88

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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