- BTC price books loss with its intraday movement
- The price breaks the freeze zone at $8,300
Bitcoin (BTC) was seen trading around $8,300 since a long time now. Last week, the price slipped to $7,900, but soon recovered and kept itself tight around the above-mentioned level. The current market scenario is indicating a bearish trend.
The intraday price movement in BTC is bearish and the same seems to continue towards the end of the day as well.
BTC to USD Price Analysis:
Bitcoin started trading at $9,657 on September 01, 2019 when the price immediately jumped to $10,933 from $9,657 by 13.20%. Unable to stay put, the price immediately fell to $9,814 by 10.24%.
Later, the price booked a slight escalation of 6.86% and touched $10,487 just to drop again to $7,796 by 25.65%, giving a new 90-day low. The price closed the month with regression of 11.58%.
In October, the price shifted to $7,793 from $8,539. The escalation recovered in price that brought it up to $8,815 by 13.12%. The current Bitcoin price is $8,157.
BTC is moving towards the immediate support level. There will arise a possibility that the price might break the next level soon if it continues to fall. Here is the resistance and support level table for the reference.
The currency is recommended for long-term traders as the short-term investment might not bring the desired result.