After the bulls successfully defended the coin above the aforementioned level, the Bitcoin price is currently trading over $19,100. BTC rose 0.49% in the previous 24 hours, showing that the coin was trading laterally. Bitcoin's price has fallen by 3.30
the red during Friday's session, now trading above $19,000 once again.
The latest drop coincides with the emergence of a worldwide economic slowdown.
After the bulls successfully defended the coin above the aforementioned level, the Bitcoin price is currently trading over $19,100. BTC rose 0.49% in the previous 24 hours, showing that the coin was trading laterally. Bitcoin's price has fallen by 3.30% in the past week.
Bitcoin has had a volatile week in which the price of the largest virtual currency reached $18,200 twice. Despite market declines on Friday, Bitcoin retained its price above $19,000. If the volatility continues, Bitcoin could fall below $18,000 or rise beyond $20,000 in coming days. BTC is presently trading between $18,000 and $20,00. The next move will very certainly set the mood for the market's short-term direction.
Bitcoin is now trading above $19,000 and has a market capitalization of $364 billion at the time of writing. BTC has been traded quite continuously and without any volatility in the previous several hours. This is expected given that Bitcoin volatility tends to remain flat during the weekend.
The markets were moving lower on Friday, but they ended the day higher. This is also seen in Bitcoin and other virtual currencies, which tend to follow traditional markets. It will be interesting to observe how the next week plays and what events may have an impact on the price of Bitcoin and other digital currencies.
As Bitcoin approaches $20,000, market volatility is increasing. The next few days will be critical for the short-term future of the master currency. The Bollinger bands on the daily chart have begun to shrink, indicating that a period of low volatility is coming to an end.
On the hourly chart of the BTC/USD pair, a triangle pattern is forming with support at $18,700 and resistance at $19300 level. Bitcoin's price is starting to surge beyond $19,000.
According to Price Analysis, The market capitalization of this BTC is estimated to be $365,993,942,993. The 24-hour trading volume for the coin is around $38,218,140,696. BTC market capitalization has fallen by 1.52%. However, trade volume decreased by 3.28% during intraday trading. The market capitalization to volume ratio is 0.1044.
There was a clear move above the 50.00% Fib retracement level of the current decline from the swing high of $19,949 to the low of $18,153. An immediate resistance barrier on the upside is at $19,300 that is 61.8% of Fib retracement level of the current drop from the swing high of $19,950 to the low of $18,153 is also near $19,050. The $19,050 area and the 100 hourly simple moving average are now forming the key barrier. A closing over $19,300 increases the likelihood of a rise towards $19,650.Any more increases might take the price beyond the $20,000 mark.
If bitcoin does not recover over $19,300, it may fall further. On the downside, $18,800 provides immediate support. The next big level of support is around $18,500. A strong breakdown below $18,500 might open the door to further decline. In the aforementioned case, the price may hit $17,000.
KEY LEVELS :
RESISTANCE LEVEL : $19300-$19800
SUPPORT LEVEL : $18700-$18200
Breakout of Triangle pattern will decide new trend for BITCOIN? Have you noticed the chart?
