Bitcoin (BTC) Starts the Week with an Upsurge; May End the Year Neutrally

  • Bitcoin manages to grow marginally over the last 24 hours
  • The next halt may come by $7531

Bitcoin has not been able to fetch any significant upsurge to end the year with a bullish note. Over the last one month, the trend of BTC has shown numerous price fluctuations. However, the price has traded between $7200 and $7600. With no signs of significant growth in the near future, Bitcoin has managed a 0.51% escalation over the last 24 hours.

Bitcoin Price Prediction

BTC price was trading around $7303.78 when it opened the week. The initial 9 hours were moderately bullish for the coin as it helped the price to get an elevation up to $7351 by 08:51 UTC. It was followed by another boost that built some momentum for Bitcoin and took the price to the highest for the day at $7531 by 20:25 UTC. However, the currency could not make this hike a long ride, and over the next five and a half hours, it subsided by 2.40% to get to $7350.51 again. It should be noted that there were no sudden shocks for the intraday traders yesterday. Hence, as per Bitcoin price prediction, intraday traders need to wait for the right time to move as BTC seems in no mood to reclaim its glory anytime soon.

Bitcoin NewsThe struggle of Bitcoin on the price front is reflected equally on the market cap as well. Between December 29 & 30, the market cap has been down to 133.772 billion USD from 134.570 billion USD. However, as the top-ranked coin, BTC sees no major change in its market perception.

Bitcoin (BTC) Support & Resistance Levels
1st Resistance $7531.11
2nd Resistance $7639.57
3rd Resistance $7765.19
1st Support $7297.03
2nd Support $7171.41
3rd Support $7062.95

Bitcoin’s current price is at $7341.06, and it has managed a comfortable lead over its 50 days MA ($7340.11). It’s 20 days MA is at $7341.75. The coin still holds the highest potential in the market, and it is likely to go through a booming period in the medium-term.

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.

Related Articles

Back to top button