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Price Analysis

Bitcoin Rises Above $10,300 Overnight; Next Halt May Come at $10,535

  • Bitcoin adds 2.5% in the last 24 hours and it crosses 10,300 USD.
  • It may find the next resistance at 10,535 USD.

BTC has been able to fetch the growth it has been in dire need of. Over the last 24 hours, it has been up by almost 2.5% and the price has crossed 10,300 USD. It has seen four major price shifts in this period and the next resistance for Bitcoin may come at 10,535 USD.

BTC to USD Price Comparison

At the onset of the day, Bitcoin was initially traded around 10,200 USD. After facing a blow, it got down to 10,041 USD after a 1.56% fall in the initial 6 hours. However, this fall was followed by a gradual rise in the BTC price and it added 318 USD having a break at 10,159 USD at 09:02 UTC. This hike gave an overall growth of 3.17% and placed it at 10,359.25 USD by 14:01 UTC. The following few hours were quite volatile. And, Bitcoin again started strengthening at 16:27 UTC and achieved a 1.96% hike over the next 5 hours and 48 minutes. This hike pushed Bitcoin price to 10,458 USD by 22:15 UTC. The latest swing was a dip in the value by 0.66% that made BTC roam around 10,389 USD today 02:37 UTC.

Bitcoin price chart
Bitcoin Price Chart by TradingView

Bitcoin Price Prediction

As BTC seems to have started strengthening, it is likely to meet the next resistance soon at around $10,535. It may find a price rally before 2019 ends and the medium-term outlook for the coin is expected to be bullish. Investors now need to wait for the coin to breach $10,800 before making any move.

Resistance Levels:

R1: $10535.11, R2: $10660.21, R3: $10878.18

Support Levels:

S1: $10192.16, S2: $9974.19, S3: $9849.15

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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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