Price Analysis

Bitcoin Price Reflects Recovery; BTC Keeps the Price Intact at $9,100

The crypto market is said to be completely dependent on the movement of Bitcoin. The currency anchors the entire market seems to gain back its essence after a tremendous fall in the past week. The second month of the last quarter has started. The traders are eyeing for a price surge.

The movement in the BTC price has reflected improvement. If the same remains locked, then the expectation of recovery could turn out to be true. If we look at yesterday’s statistics, Bitcoin touched a high at $9,383.16 and a low at $9,028.72. The volume marked was at $26,583,653,947.

Bitcoin Price Prediction

Yesterday, Bitcoin started at $9,184. The first half marked regression and took the price to $8,983. The fall in the BTC price was marked as 2.24%. Later, the currency jumped to $9,393, with an aggregate progression of 4.56%. The closing price of the coin yesterday was around $9,196. The fall from $9,393 to $9196 was marked as 2.09%. However, the intraday progression was recorded by 0.09%. Today, Bitcoin started the day with a fall. The coin went to $9,088. Further, the BTC started recovering and jumped to $9,290 from $9,143 by 1.60% hike.

btc to usd price chart
Bitcoin Price Chart by TradingView

In the last 7-days, Bitcoin jumped from $7,400 (recorded on October 24, 2019) to the current price level of $9,100. The improvement in the Bitcoin price is amazing. For intraday traders, the indications are positive. The day might bring a satisfactory result to the traders. But, to avoid losses in trading, day traders should consider the following levels:

Resistance Level Price Support Level Price
R1$9,378.92S1$9,024.48
R2$9,558.26S2$8,849.38
R3$9,733.36S3$8,670.04

Bitcoin is speculated to give a colossal profit in the future. The traders interested in the coin are recommended to pick long-term investments for booking a huge outlay.

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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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