- Bitcoin (BTC) touched $4,400 second time in a week
- The tremendous downtrend in the crypto market scares the investors
The crypto market started the day with a sluggish movement, and the sluggish downside movement was disturbed around 05:00 UTC, and after that, BTC price dribbled tremendously. The hefty fall in the coin brought the currency to $4,400 again.
In the last week, the Bitcoin price was spotted around $4,100. The same was marked as the 90-days low price. The coin was spotted recovering after the same, and thus the last two days, the intraday highs are $5,625 and $5,836 simultaneously. The traders are recommended to hold on their investment for a while and wait for some stability in the near-term.
Bitcoin Price Analysis
Bitcoin started dealing at $5,151 in the first hour today, and within the next 6 hours, the price escalated to $5,342 by 3.50%. The currency hovered around the same level, and around 12:18 UTC, the price escalated to $5,597 by 6.23%. BTC couldn’t hold itself at the same level, and in the next 2 hours, the price dropped to $5,268 at 14:18 UTC. Later, the currency locked itself around the same level till 20:42 UTC. With a slight plunge at $5,206, the price escalated to $5,975 by 14.75% hike at 21:59 UTC. During the last hours, the currency dropped to $5245 by 12.13% fall and closed the day.
Today, Bitcoin locked itself around $5,274 for the first five hours. Further, the currency marked a tremendous drop of almost 15% and reached $4,473. At the time of writing this analysis, BTC was trading at $4,593. The MACD chart was spotted marking bearish crossover a few minutes ago, but at the moment, it reflects bullish crossover as the signal line has been overlapped by the MACD line.
The current price has breached the immediate support level at $5,095 and the next support level at $4,798. The major support level at $4,428 is likely to get violated by the end of the day. If you want to buy Bitcoin then, check one of the most secure trading platforms – Bitcoin Profit. Check BTC Profit Review for more details.