Price Analysis

Bitcoin (BTC) Reverses Yesterday’s Uptrend; Remains Intact Around $8,300

  • Bitcoin price moves around $8,300.
  • The intraday price movement indicates a bearish ending.

Bitcoin price is moving with a moderate speed as the price is seen to be stable at around $8,300 since the last week. Within the span of fifteen days, the price has touched the lowest point at $7,900. The market cap of BTC was moving around $14 billion which was breached yesterday, and it went up to $15 billion. The moderate movement in Bitcoin seems beneficial.

The Bitcoin was seen touching a high at $8,390.21 and a low at $8,284.13 in yesterday’s trading market. Let’s have a look at the current price chart.

BTC to USD Price Analysis:

Bitcoin Price
BTC Chart By TradingView

The month of September started with an escalation at BTC price as the counters jumped from $9,635 to $10,887 by 10.07%. Unable to hold the price of BTC soon fell to $9,827 by 9.73%, and it kept trading around the same price area for some time. Later, the fall brought it down to $7,842 from $10,494 by 25.27%, and the price closed the month at $8,538 by 11.60%. The ongoing month took the price to $7,813 from $8,538 by 10.30%. The coin recovered and jumped to $8,798 by 12.61%, and currently the trading price of BTC is $8,312.

Bitcoin price movement has always influenced the market. In the past, we have seen Bitcoin anchoring many currencies in the market, and the recent market trend has affected Bitcoin widely. We are still hopeful that it would swim out soon. In the coming days, there are high expectations that Bitcoin would be booking huge profits.

Resistance Level Price
R1$8,415
R2$8,455
R3$8,521
Support Level Price
S1$8,309
S2$8,243
S3$8,203

As per the above-given chart, the price of BTC would get immediate support at $8,309. However, if there is some improvement, then the price might jump to $8,415. The coin is best suited for long-term traders

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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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