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Price Analysis

Bitcoin Starts the Week with a Positive Sign; Grew Marginally by 0.34% Overnight

  • Bitcoin managed to retain the value above 10,300 USD.
  • The next resistance may fall at 10,423 USD.

Bitcoin has started the week with a marginal 0.34% hike. Though it has not gained a huge margin, it managed to sustain the value against USD above 10,300 USD. There were five price shifts, and the price movement pattern resembles a zig-zag pattern.

BTC to USD Price Analysis-

Bitcoin Price
Bitcoin Chart By TradingView

Bitcoin opened Sunday with a significant fall of 0.77% between 00:12 UTC and 04:29 UTC. This fall cost 79.52 USD. After the next 20 minutes of marginal growth show, it took another dip of 0.57% to reach 10,285 USD. The next few minutes from 09:21 UTC could not help it maintaining the value near 10,300 USD and at 10:41 UTC, it started weakening again and over four hours reached 10,264 USD, the lowest point for the day. In the next one and a half hours, it lifted its value to 10,335 USD to slip again by 0.60% and lost 62.50 USD. However, towards closing, BTC managed to strengthen, and it gained 105 USD to touch 10,379 USD.

Bitcoin Price Prediction-

Bitcoin’s short-term may not witness any significant or abrupt changes. However, gradual growth can be expected from Bitcoin. The medium-term is likely to be bullish for it. The next resistance may fall by 10,423 USD.

Bitcoin (BTC)Support & Resistance Levels
1st Resistance$10385.46
2nd Resistance$10423.21
3rd Resistance$10459.40
1st Support Level$10311.52
2nd Support Level$10275.33
3rd Support Level$10237.58

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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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