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Price Analysis

Bitcoin’s Slow Days Count Adds Another Point; Value Stagnates Around $10,300

  • Bitcoin lost 0.5% in the last 24 hours and closed the day around 10,300 USD.
  • The next resistance for Bitcoin may come at 10,600 USD.

Bitcoin’s current slowdown is not a thing to be over so soon. Adding another day to the series, Bitcoin has been down by almost 0.5% in the last 24 hours. With four colossal price shifts in this period, it could maintain the value above 10,300 USD. However, the medium-term of Bitcoin is likely to get bullish.

BTC to USD Price Comparison-

Bitcoin’s journey for the day started with a descent of 1.77% between 00:10 UTC and 11:01 UTC. This descent had two breaks in between at 10,422 USD and 10,354 USD. The highest point for Bitcoin recorded yesterday was 10,451 USD.

Bitcoin price chart
Bitcoin Price Chart by TradingView

The second price variation started at 11:01 UTC, and over the next 1 hour and 58 minutes, it gathered 88 USD to be placed at 10,354.25 USD by 12:58 UTC.

The next variation happened between 12:58 UTC and 20:12 UTC and this variation saw a fall of 1.82% that cost BTC price 188 USD. This made it reach the lowest point of the day at 10,166 USD. However, towards closing, it got strengthened and achieved a 2.11% hike by 00:02 UTC, today. During the initial hours of today, Bitcoin has been losing value and as per the latest data, it has been down from 10,380 USD to 10,325 USD.

Bitcoin Price Prediction-

Bitcoin is the topmost coin of the market and the whole market tends to follow the price movement of it. There is no second opinion on the grim conditions of the market, coupled with an overall slow global economy. Negating possibilities of tremendous unprecedented growth, we predict Bitcoin to touch cross 11,000 USD by the end of this month.

Support & Resistance Levels-

R1- $10459.16, R2- $10557.77, R3- $10674.05

S1- $10244.27, S2- $10127.99, S3- $10029.38

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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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