- Bitcoin shows no signs of growth, value is below 8,300 USD
- The next resistance of BTC may fall at 8,483 USD
In the last 24 hours, Bitcoin (BTC) could not make any major impact; the value is still lagging behind the 8300 USD price level. It has been through four major price variations and the range has been between 8,515 USD and 8,210 USD.
Bitcoin Price Analysis:
Bitcoin’s first major price swing happened between 01:05 UTC and 03:18 UTC and this swing added 299.75 USD and placed it at 8,509 USD. It was followed by a fall of 2.32% and it lost 197 USD in this process. This fall forced the value to 8,312 USD by 13:07 UTC.
The third swing started at 13:07 UTC and over the next 4 hours, it went as high as 8,515 USD with the help of a 2.44% growth. The last variation came between 17:07 UTC and 23:39 UTC, this variation gave the coin a downtrend of 2.55%. This fall forced the value of BTC to USD to be confined below 8,300 USD.
BTC price is below its 50 days and 20 days average and no sign of early recovery seem now. However, according to CryptoNewsZ’s Bitcoin price forecast, a bullish medium-term can be expected from BTC; it is likely to face the next resistance at 8,483 USD.
Support & Resistance Levels: