Bitcoin Price Breaks the Freeze Zone Around $8,300 and Drops to $8,100

Bitcoin (BTC) Bitcoin (BTC)
  • BTC price books loss with its intraday movement
  • The price breaks the freeze zone at $8,300

Bitcoin (BTC) was seen trading around $8,300 since a long time now. Last week, the price slipped to $7,900, but soon recovered and kept itself tight around the above-mentioned level. The current market scenario is indicating a bearish trend.

The intraday price movement in BTC is bearish and the same seems to continue towards the end of the day as well.

BTC to USD Price Analysis:

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Bitcoin started trading at $9,657 on September 01, 2019 when the price immediately jumped to $10,933 from $9,657 by 13.20%. Unable to stay put, the price immediately fell to $9,814 by 10.24%.

Later, the price booked a slight escalation of 6.86% and touched $10,487 just to drop again to $7,796 by 25.65%, giving a new 90-day low. The price closed the month with regression of 11.58%.

In October, the price shifted to $7,793 from $8,539. The escalation recovered in price that brought it up to $8,815 by 13.12%. The current Bitcoin price is $8,157.

BTC is moving towards the immediate support level. There will arise a possibility that the price might break the next level soon if it continues to fall. Here is the resistance and support level table for the reference.

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The currency is recommended for long-term traders as the short-term investment might not bring the desired result. To know more about BTC prediction, check out this article for further price prediction and price analysis.

Resistance Level Price
R1 $8,349.82
R2 $8,494.26
R3 $8,577.82
Support Level Price
S1 $8,121.82
S2 $8,038.26
S3 $7,893.82