Price Analysis

Bitcoin’s Downtrend Continues; Falls Below $10,000 Overnight

  • Bitcoin goes below 10,000 USD in the last 24 hours.
  • The next support for BTC may come at 9870 USD.

Bitcoin (BTC) has been hit by the current slowdown of the whole crypto market and it halted all attempts of recovery from the last week’s fall. In the last 24 hours, the value has gone below 10,000 USD. It has shown five major price shifts in this period.

Bitcoin Price Analysis:

Bitcoin was being traded at 9984 USD at the time of opening of the day and it got a blow of 1.35% in the next 4 hours and 25 minutes to be placed at 9850 USD, the lowest point for the day. It was followed by a major hike of 2.28% and it added 224 USD in the value and pushed it to 10,075 USD. However, this high value could not have lasted long and it fell to 9943 USD by 14:24 UTC and this 1.31% fall had a break at 10,054 USD.

The fourth variation happened between 14:24 UTC and 23:28 UTC and this helped BTC to scale till 10,077 USD, the highest point for BTC. The latest swing was made at 23:28 UTC and over the next 2 hours and 18 minutes; it fell by .95% and touched 9971.94 USD.

Bitcoin Price Chart
BTC Chart by TradingView

 Bitcoin is struggling to keep its head above 10,000 USD as of now. As the current price movement and past data, BTC will be trading in a range of its immediate support and resistance levels.

Bitcoin (BTC)Support & Resistance Levels
1st Resistance$10122.37667
2nd Resistance$10174.36333
3rd Resistance$10274.28667
1st Support Level$9970.466667
2nd Support Level$9870.543333
3rd Support Level$9818.556667
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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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