|BTC Price: $10,271
Last 7 Days: -16.65% 1month: 18.59% 12months: 62.78%In recent days we have seen heavy losses in the price of Bitcoin below the $11,000 support and breaking a major key support of $10,800 decreasing the price further towards $10,400. Eventually, bears ran out of steam and bulls managed to claw back a close below $10,800 as a level and the 100 hourly simple moving average. It has been mentioned that $8,880 seems to be a bearish target and is now seeming more realistic than ever within the short term. The price is currently trading around the 23% Fib retracement level of the recent dip from $11,400 to $9,800, however we can see many resistance levels on the upside towards $10,550 and $10,620. Main resistance is near $10,800 which was the previous support and for a strong recovery we would need to see bulls take the price upwards of this mark. Immediate support is placed at $10,000 on the nose however a dip below this we could see a slide towards $9,500 / $9,200. Looking at the chart it seems that the price of Bitcoin is in a downtrend from the $13,200 yearly high and if bears remain in control $8,880 is an achievable target.
8th July: $23,482,551,458 (BTC Price of $12,285)
15th July: $26,843,346,115 (BTC Price of $10,319)
14% increase in trading volume in the last 7 days