Price Analysis

Bitcoin Trades Around $8300; Resistance may Come at $8435

  • Bitcoin manages to stay above 8,250 USD, while trades around 8,300 USD in the last 24 hours.
  • The next resistance may come by 8,435 USD.

Bitcoin has been successful in maintaining its value around 8,250 USD over the last 24 hours, and the three price swings have given a range between 8,166 USD and 8,455 USD. The change in the value stands at a mere 0.04%.

Bitcoin Price Analysis

Bitcoin started the day trading around 8,295 USD, and the first variation happened between 00:02 UTC and 13:45 UTC. This swing gave a push to the value of BTC, and it added 160.12 USD in the value to place it at 8,455.99 USD, marking the highest value for the day. The second variation happened between 16:30 UTC and 20:16 UTC, and this variation was a freefall of 3.58% that took the value down to 8,166 USD from 8,469 USD. It was followed by a 1.60% increment in the value, and it helped BTC to touch 8,297 USD by 01:57 UTC.

The market cap of Bitcoin on October 13 was 149.7 billion USD, and it has also faced a fall in the last 24 hours. The current market cap has come to 149.63 billion USD.

Bitcoin Price
BTC Chart By TradingView

As of now, Bitcoin’s 20-day Moving Average is forwarding above its 50-day Average, and its current trend has breached both its averages. It shows the potential of Bitcoin in bringing a bullish run in the coming days. The next resistance for BTC may come at 8,435 USD.

Bitcoin (BTC)Support & Resistance Levels
1st Resistance$8435.79
2nd Resistance$8550.58
3rd Resistance$8630.17
1st Support Level$8241.41
2nd Support Level$8161.82
3rd Support Level$8047.03
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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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