Bitcoin Loses Track After a Cut by 2.02% Overnight

Bitcoin (BTC) has been through a phase of price correction and over the last 24 hours, it lost 2.02%. The value against USD has now fallen from 8000 USD to 7900 USD. It has been through three major price changes.

Bitcoin Price Analysis:

BTC price opened the day at 8076.94 USD and its first swing happened between 02:01 UTC to 08:51 UTC. This fall of 3.72% cost it 302 USD and placed it at 7814 USD. It was followed by a hike of 2.03% and it added 158 USD to the value and placed it at 7973 USD.

The last swing started at 14:17 UTC and over the next 8 hours and 29 minutes, it was up by 1.06% and it helped BTC to add 84.11 USD and reached 7984 USD.

Along with the value against USD, the market cap of BTC has also been hit in the last one day. Between 18^th and 19^th October, the market cap has been down to 143.202 billion USD from 143.517 billion USD.

BTC’s 20 days average is now at 8212.12 USD and its 50 days average stands at 9183.87 USD. The current price at 7913.68 USD is 13.83% and 3.63% less than the 50 days average and 20 days average respectively. It is likely to find the next resistance near 8107 USD.

 Support & Resistance Levels: