Amidst daily price fluctuations, Bitcoin has managed to stay above $6700 for the last few days. Over the last 24 hours, it has been up by a mere 0.51%, and the current value stands at $6764.

BTC has begun this month around $6400 but it faced regressive trend and on the same day, it hit $6200 mark. Then, Bitcoin price escalated with tremendous pace and yesterday it has breached $7267. However, after that, it faced steep fall and currently, the coin is trading around $6700 price mark.

Bitcoin Price Analysis

Bitcoin (BTC) Price News

Yesterday, BTC price was at $6730.39 at the starting of the day, and it lost 2.01% by 05:26 UTC and touched the lowest point of the day around $6595.01. It was followed by a steady upside movement and gained 10.20% by 17:04 UTC that added $672.47 and pushed the Bitcoin value to $7267.47, the highest point of the day. However, it couldn’t manage to stay there for long and started trading downwards.

Over the next three and a half hours, the currency went through a steep fall and reached $6688.46. From this low, in the next 2 hours, Bitcoin managed to get a hike of 2.54% value and moved to $6858. At the time of writing this analysis, the coin was trading at a similar range around $6764.

Bitcoin is currently trending above its 20 days MA (6754.24 USD), and its 50 days MA is now at $6766.08. Its RSI is now around 54.61 points. It shows that the possibility of upside trading is ripe and BTC price may cross its immediate resistance around $6.9k soon. We predict a short-term bullish spree for the coin. Investors may find the next resistance around $7055.

Published by Jae Sweeney

Jae Sweeney got into Bitcoin era while completing his Masters degree. He is expert in writing the crypto related articles and making it as breaking news.He is always updated towards the Bitcoin News.

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