Bitcoin Price Breaks the Freeze Zone Around $8,300 and Drops to $8,100

  • 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 ChartBTC 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. To know more about BTC prediction, check out this article for further price prediction and price analysis.

Resistance Level Price
R1 $8,349.82
R2 $8,494.26
R3 $8,577.82
Support Level Price
S1 $8,121.82
S2 $8,038.26
S3 $7,893.82


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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