Bitcoin Glam on the Weekend; Touches $10,000 after a 33% Increment

  • Bitcoin gains fatuously by 33.14% in the last 24 hours
  • It is expected to face its next resistance at 10,200 USD

Bitcoin has shaken the whole market with a tremendous 33.14% hike over the last 24 hours. It has been through three major price swings, and all the variations have been in the range between 7,439 USD and 10,477 USD. The unprecedented hike by BTC seems to have put the whole market on fire.

Bitcoin Price Analysis

Bitcoin could not show any significant movements till 10:38 UTC yesterday. From there it started its journey of growth. In the next 6 hours and 45 minutes, it went on to gain 16.56% and added 1242.68 USD to be placed at 8745 USD. The second variation happened between 18:01 UTC and 01:45 UTC to add 23.47% which helped BTC to scale as high as 10,477 USD, giving a new 30 days’ high figure. However, from 01:45 UTC today, BTC started weakening, and it reached 9,726 USD after a 7.16% loss.

Bitcoin’s market cap also has witnessed an unexpected rise in these 24 hours. Between October 25 and 26 (until the time of writing), the market cap has got a whopping raise to 176.72 billion USD from 156 billion USD.

Bitcoin PriceBTC’s 20-day average is at 8,238.62 USD, and 50-day average stands at 8905.42 USD. The current trading price is 9904.68 USD, which is 11.22% and 20.22% more than the 50-day average and 20-day average respectively. As per Bitcoin price projection, BTC’s next resistance awaits at 10,286 USD, only if it maintains its upward momentum.

Bitcoin (BTC) Support & Resistance Levels
1st Resistance $10,000
2nd Resistance $10,200.96
3rd Resistance $10,586.32
1st Support Level $9,500.27
2nd Support Level $9,000.84
3rd Support Level $8,500.71

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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