|BTC Price: $8,219
Last 7 Days: -1.54% 1month: -17.96% 12months: +28.49%
In recent days Bitcoin has followed a bearish trail below the levels of $8,400 and $8,220 and has settled below the $8,200 support and the 100 simple moving average (4-hours). There was also a break below the $8,000 support and a new monthly low was formed near $7,820. The price is currently correcting losses and is trading just above the $8,000 support at $8,200. On the upside, there are many obstacles near the $8,300 and $8,500 levels, whilst on the downside, the key support is near the $7,850 level. If there is a downside break below the $7,850 support, then there is a risk of further losses towards $7,200. Bitcoin’s momentum is clearly trading in a bearish zone although whilst we have just recovered above $8,000 we will need a convincing break above $8,500 to confirm a full change of mood for the traders in the market, if not we will see the support below $8,000 tested in the near term.
14th October: $15,151,387,859 (BTC Price of $8,374)
21st October: $15,596,628,666 (BTC Price of $8,244)
3% increase in trading volume in the last 7 days