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Price Analysis

Bitcoin Price Analysis: BTC Price Finally Shows Positive Signs

  • Bitcoin re-gained above $11,000 today, currently correcting downwards
  • Over last 4-hours BTC reaches above $10700 from its price around $10,500
  • BTC price hovered between $10600 to $10700, after a pullback from $10,848.70

After an extremely bearish week for Bitcoin price, today, the coin has started to trade with an increase and that has surely given some relief to the rest of the crypto market. Until today, BTC and leading altcoins such as XRP and ETH were trading bearishly against U.S.Dollar.

BTC has even touched $11,000 price mark today, but couldn’t gain stability there and it returned back to its price range between $10,000 and $11,000. However, it is to be observed whether the coin continues to go higher or slumps.

Bitcoin Current Statistics

At 11:29:21 UTC, BTC was trading with its price at $10706 while possessing a market capitalization of $191,991,395,502. Bitcoin has 17,820,637 BTC as part of its Circulating Supply and it fetches 7,862.71% of RoI.

BTC/USD Price Chart

Bitcoin Price Chart
Bitcoin Price Chart

4 hours ago, BTC was trading at $10,526.56 and it gradually surged to $10,848.70 with an increase of 3.05%, here, it has broken major resistance near $10,600 and $10,700. BTC remained above $10,800 for a while and later it pulled back to $10,721.44. Since then the coin has traded in the price range of $10,600 to $107,00. 

In the last 4-hours, BTC has shown an increase of 1.71%. But, Bitcoin’s current price is still 3.31% lower than its 30-days SMA of $11,072.62 and the coin is in Sell phase.

Technical Indicators:

MACD for Bitcoin is lowly volatile but indicates a bullish price move as the MACD line is above the Signal line. RSI for the coin is at 60 showing stability in its price trend. If it manages to trade above $11,000, BTC may see further resistance at $11,301.24 and $11,707.38, and support levels at $10,240.48 and $9,585.86.

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Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on world's leading digital currencies. She holds graduate degree in journalism.

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