Bitcoin Price Consolidates Below $9500, Is It Appearing $9000?

  • Bitcoin price finds no stable support around $9500 price and falls even further.
  • BTC even slips as low as $9340.08 in the past 24 hours.
  • If Bitcoin devalues even further, it may end the year trading around $8000.

Bitcoin undoubtedly is an immortal investment avenue for its loyalists and lovers. But the investors having a diversified portfolio of investments would have had bearish sentiments as Bitcoin value dumped below $10,000 and now even below $9500 support. BTC value has degraded even below its 100-day EMA which may have proved to be a support.

Price Chart by TradingView for BTC to USD:

The below Bitcoin price chart is a data feed from Coinbase as on 30th August at 07:03 UTC.

Bitcoin (BTC) Price

The intraday movement of the coin in past 1 day has been in range of $9700 to $9300. BTC price was rightly above $9500 trading at $9682.32 in initial hours of the day. It than slipped by 3.70% showing a downtrend from a lower high to the lower low-price trading at $9323.71 on same day. Later it tried to consolidate and traded above $9500 for a while but could not hold tight and had a bearish crossover at the onset of 30th August. Currently it is trading at $9476.72 in the mid-range between the price marks of $9500 and $9300 at $9476.72.

BTC price has its immediate resistance at $9500 and major resistance at $9800 and $10,000. With this, the coin has its immediate support at $9300 and the major one at $9000. If it extends even below BTC may not end the year on a good note. In any case, according to our Bitcoin forecast, the current circumstance of bitcoin maybe something similar for a while. Visit here for more information regarding future prices of BTC!

Technical Indicators:

Bitcoin price went for an extended price fall and this 1-day oscillations observed indicate towards the solid selling pressure.

The current trading price of Bitcoin is 5.41% and 8.46% less than 10-day SMA and 30-day EMA with a bearish MACD crossover but in the positive array.

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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