- Bitcoin gained 1.39% in the last 24 hours and remained above 8877.33 USD
- It may soon touch the next resistance point at 8901.29 USD
Bitcoin has finally moved out of its sluggish spree and managed a hike to the extent of 1.39% over the last 24 hours. The current value roams around 8877.33 USD.
Bitcoin Price Analysis
Bitcoin was trading at 8755.17 USD in the opening hour of the day, and the first swing happened over the next 6 hours. It was up by 1.05% and added 91.81 USD to the value to reach 8846.98 USD. It was followed by a 1.93% price correction that deducted 170.86 USD from the value and pulled the value down to 8675.29 USD by 15:09 UTC. However, towards the closing of the day, Bitcoin managed to build the momentum. By 01:15 UTC; it could reach 8891.40 USD, thanks to the 2.49% increment.
Bitcoin’s MACD line is yet to touch the signal line. However, the gap between the lines is merging gradually. Bitcoin’s current value is lagging behind its 20 days MA (8878.46 USD). However, it has managed to grow by 0.03% than the 50 days MA (8874.27 USD). Bitcoin may touch the next resistance point by 8901.29 USD.