Bitcoin Price Analysis: BTC Breaks Below $9500; is it Eyeing Even Lower at $8000?
- BTC has recently dropped below $9500, currently correcting up
- Bitcoin has found support at $9427.18, yet to surge above $9500
- In the last 4 hours, BTC has decreased to 0.92%, trades under selling pressure
Bitcoin has recently tapped on the price range around $9400 after a price loss of $190.12. Apparently, the coin has failed to continue a steady bull-run against U.S.Dollar.
4 hours ago, BTC was at $9570.48 and it even touched $9618.67 with a surge. Then it pulled back to $9582.05 and gradually dropped to $9427.18 while breaking support levels around $9500 and $9450. It was a decline of 1.98% from its high price point of $9618.67.
At present, Bitcoin is correcting up and at $9485.61 it has struck a rebound of 0.62%. At 10:26:12 UTC, Bitcoin is trading at $9482.36. In the last 4 hours, Bitcoin has manifested a decline of 0.92%.
BTC/USD Price Chart
Bitcoin’s current price is proving how bearish the market is as the coin is even below its 5-day SMA. Also, BTC is 8.86% lower than its 50-day SMA of $10404.29. The coin is trading under selling pressure. As per future predictions for Bitcoin, the coin may face resistance at $9,668.17 and support at $9,136.99.
Bitcoin Price Prediction & Technical Indicators:
Bitcoin’s MACD chart is lowly volatile but it just had a bullish crossover in the bearish zone. RSI for the leading crypto coin is at 40 showing no extremities.
