Bitcoin (BTC) Exhibits Stability; Holds the Value around $8700

Mehak PunjabiJanuary 22, 2020Last Updated: May 6, 2022

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Bitcoin seems to have retained the moderate bullish trend
It may soon touch $8819 as its next resistance with a moderate volatility

Bitcoin has maintained its price near $8700 mark from yesterday. Though it has been through a few ups and downs, there has been a 0.90% increment in the value in this period. It is likely to retain this bullish vibe in the near-term.

Bitcoin Price Analysis

BTC was being traded at $8633.67 at the starting of the day, and in the next 4 hours and 38 minutes, it went upwards to touch $8675. At 04:38 UTC, Bitcoin’s price started weakening. By 19:53 UTC, it was at its lowest point of the day at $8500. However, this 2.01% drop was followed by a boom to the extent of 2.65%. This upsurge took the price to $8725.83 by 01:17 UTC today. Apart from this, find more information about the future predictions for Bitcoin with its prediction chart at our forecast section.

Bitcoin’s both 50 days MA ($8721.41) and 20 days MA ($8723.03) are trending above its current price. However, the gap doesn’t seem to widen in the short-term. BTC price is likely to touch its next resistance at $8819 soon. However, investors may not get relief from intraday price shocks in the coming days.