Price Analysis

Bitcoin Loses Track After a Cut by 2.02% Overnight

  • Bitcoin loses 2.02% over the last 24 hours.
  • The next resistance for BTC may fall at 8107 USD.

Bitcoin (BTC) has been through a phase of price correction and over the last 24 hours, it lost 2.02%. The value against USD has now fallen from 8000 USD to 7900 USD. It has been through three major price changes.

Bitcoin Price Analysis:

BTC to USD Price Analysis
Bitcoin Chart by TradingView

BTC price opened the day at 8076.94 USD and its first swing happened between 02:01 UTC to 08:51 UTC. This fall of 3.72% cost it 302 USD and placed it at 7814 USD. It was followed by a hike of 2.03% and it added 158 USD to the value and placed it at 7973 USD.

The last swing started at 14:17 UTC and over the next 8 hours and 29 minutes, it was up by 1.06% and it helped BTC to add 84.11 USD and reached 7984 USD.

Along with the value against USD, the market cap of BTC has also been hit in the last one day. Between 18th and 19th October, the market cap has been down to 143.202 billion USD from 143.517 billion USD.

BTC’s 20 days average is now at 8212.12 USD and its 50 days average stands at 9183.87 USD. The current price at 7913.68 USD is 13.83% and 3.63% less than the 50 days average and 20 days average respectively. It is likely to find the next resistance near 8107 USD.

 Support & Resistance Levels:

Bitcoin (BTC)
1st Resistance8107.026667 USD
2nd Resistance8240.843333 USD
3rd Resistance8343.276667 USD
1st Support Level7870.776667 USD
2nd Support Level7768.343333 USD
3rd Support Level7634.526667 USD
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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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