Price Analysis

Bitcoin Price (BTC) Trades Around $10,300; No Superficial Change In Past 4 hours

Finmax

Bitcoin price opened the day trading around $10,300. BTC has even recorded the 24-hour lowest price near its major support level of $10,000 at $10,008.79. But the coin traded in the midrange of the 24-hour high and low price.

Bitcoin price trades with strong resistance at $10,500, $10,800 and the major area near $10,000, below which the investors may have a loss-making phase. With this, BTC notably breached $10,500 in the past 24 hours but could not hold and is currently trading near $10,300.

Finmax BTC

But this has necessarily created a bullish sentiment as the anchor started the week with an upsurge.

BTC to USD Price Chart by TradingView:

BTC Price Prediction
BTC Price Chart by TradingView

Tracing the 4-hourly movement of the coin, it is well observant that Bitcoin price today was trading at $10,339.30 around 06:30 UTC today. Within no time the Bitcoin value crossed $10,400 trading at $10,408.83 which was, unfortunately, a temporary move and BTC price took a steep drop to trade at $10,291.42. Making an inverse pyramid, the coin within the said time frame again went above $10,400 at $10,422.51, near to the latter price area above $10,400. Here, Bitcoin tried to make a double top but slipped to the current trading price of $10,362.25. Bitcoin had a major plunge of the hour when it slipped from $10,408.83 to $10,291.42 by 1.12%.

Technical Indicators:

Bitcoin price is rightly correcting from the selling pressure it was bound to.

The current trading price of Bitcoin is 3.62% and 2.78% less than the 20-day SMA ($10,752.49) and 30-day SMA ($10,659.10). BTC price is no better than the marked 30-day EMA ($10,549.90) as well.

The MACD of BTC just had a bearish crossover with a negative sentiment below zero.

The RSI of the coin remains above 40 with no extremities in the oversold or overbought region.

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.

Related Articles

Back to top button