Price Analysis

Bitcoin Price Locks Itself Around $8,200

  • Bitcoin (BTC) price registers moderate profit
  • The coin freezes around $8,200 during the intraday price movement

The market is currently fluctuating and is creating chaos amongst the coins. Bitcoin is seen as affected by the same. If we look at the beginning of the year’s statistics, the price noted in BTC was at $3,700. The currency touched $13,100 in the month of July 2019. The current price is at $8,200 which is approximately 3 times more than the price during the starting of the year.

Yesterday, the coin was seen touching a high at $8,296.69 and a low at $8,196. The volume marked was at $15,868,748,866. However, today, the market cap of Bitcoin is at $149,221,068,425 and 24hr volume is at $16,642,437,137.

Bitcoin Price Analysis:

Yesterday, the coin started dealing at $8,260 when the price jumped to $8,289 by 0.35%. Later, the price escalated to $8,312 from $8,237 by 0.91%. The final uptrend took the coin to $8,330 by 096% from $8,251. The price fell tremendously to $8,190 by 1.77%, but further improved and closed the day at $8,249. Today, the price was seen falling in the opening hours. The counters slipped from $8,249 to $8,225 by 0.29%. Later, the escalation took the coin to $8,326 by 1.15%.

Bitcoin Price
BTC Chart By TradingView

The market started the day with a bullish trend. The traders had high expectation, but due to the heavy pressure, the price fell ruined them all. However, Bitcoin is still indicating a hope of climbing up again as the price is near the immediate resistance level.

Resistance Level Price
R1$8,294.8
R2$8,345.88
R3$8,395.07
Support Level Price
S1$8,194.53
S2$8,145.34
S3$8,094.26

The currency holds a high prospect of improvement. The traders can dig-in for long-term to earn a colossal profit.

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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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