Bitcoin Retains its Value at $10,200; No Quick Recovery Seems Imminent

Bitcoin again fails to make any move in the last 24 hours and as far as its price against the US Dollar is concerned, there has not been any minor change over the period. It was through four phases of price shifts yesterday and BTC price has a range of 10,700 USD and 10,100 USD.

Bitcoin Price Analysis & Predictions

At the time of opening of the day, Bitcoin price was at $10,272.88 and over the next nine and a half hours, it fell to $10,137.92, the lowest point for the day. However, BTC was followed by a hike of 1% and it added $101.43 to each coin.

The next few hours were volatile and between 14:03 and 20:55 UTC, Bitcoin faced its third price variation. It took BTC price to $10,275.93 and this hike had a break at $10,260.97. However, this high figure could not be sustained for long. It took a dip over the next 2 hours and 45 minutes from 20:55 UTC and it lost $99.77 in the meantime.

Bitcoin Price
BTC Price Chart by TradingView

Bitcoin could at least maintain this level amidst high volatility and uncertainty in the market. This may be a sign of recovery of the whole market. However, BTC is not likely to make any huge jump to gain. According to BTC predictions, According to BTC predictions, the next resistance may come at $10,389 by the end of this week.

Support & Resistance Levels-

Bitcoin (BTC) Resistance & Support Levels
1st Resistance $10292.11333
2nd Resistance $10342.95667
3rd Resistance $10389.14333
1st Support Level $10195.08333
2nd Support Level $10148.89667
3rd Support Level $10098.05333

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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