The Bitcoin price was hovering between $7,200 to $7,800 throughout the previous week; however, yesterday saw Bitcoin lose value. There’s no major announcement expected to swing the Bitcoin price today.
Bitcoin investors were hopeful that the Bitcoin price won’t drop further. The day started with BTC trading at around $7,334. Upward movement saw it touch $7,340 before dropping to $7,278. After a period of short uncertain movements, the Bitcoin price dropped to a low of $7,234.
It quickly rose to around $7,390; this period was followed by a sharp drop in price to $7,334. After a period of support and resistance, the Bitcoin price rose to a high of around $7,465. The price dropped to $7,278 immediately and a period of almost linear price movement followed before BTC moved up to $7,390. The day ended with Bitcoin trading at around $7,386.
BTC/USD 24-hour chart provided by Trading View
There were three major periods of reversal in which the Bitcoin price moved against the trend today. The first was when the market gained from $7,224 to $7,465 after a period of downward movement. The second happened after the Bitcoin price dropped from $7,390 to $7,334 after a series of upward movements. The third major reversal happened when the Bitcoin price dropped from $7,465 to $7,278.
The Bitcoin price hasn’t made any significant loss or gain in the past two days. We expect Bitcoin to end trading today at around $7,500 or drop to around $7,200.
Market trend: uncertain
High (24H): $7,465
Low (24H): $7,234
Market cap: $ 133,885,668,208 (data provided by Coinmarketcap)
Volume (24H): $18,476,026,044 (data provided by Coinmarketcap)
The day started with Ethereum trading at around 0.02265 BTC. This period was followed by almost-linear movement in the price of Ethereum until the price settled around 0.018870 BTC. This period was followed by a period of upward movement to around 0.02183 BTC. The day ended with Ethereum trading at 0.020762 BTC.
ETH/BTC 24-hour chart provided by Kucoin
High (24H): 0.022655 BTC (data provided by Kucoin)
Low (24H): 0.018870 BTC (data provided by Kucoin)
The day started with Ripple trading at around 0.00003125 BTC. The price of Ripple rose to around 0.00003762 BTC immediately after. The price dropped to a low of around 0.00002941 moments later. Almost-linear movement in price followed immediately before rising to 0.00003351 BTC afterward. The day ended with Ripple trading at 0.00003125 BTC.
XRP/BTC 24-hour chart provided by Kucoin
High (24H): 0.00003762 BTC (data provided by Kucoin)
Low (24H): 0.00002941 BTC (data provided by Kucoin)