bitcoin price analysis
On Thursday, October 10th, the BTC is growing, trading at $8616.90.
By Thursday, October 3rd, the BTC volatility ha smoothed a bit. The leading cryptocurrency is consolidating at around $8274.00.
By Thursday, September 26th, the leading cryptocurrency has stopped falling steeply and is searching for a foothold near $8399,00.
Reports show some evidence, though not conclusive, that institutional investors may have played a role in the recent Bitcoin price drop with many expecting it to test the $7,500 support before recovering.
Many commentators predicted a downside Bitcoin move and they seem to have been correct all along as BTC price lost 5% in an hour. The drop moved BTC nearer to the 20 moving average as volume continues to taper off.
This week, the Bitcoin price has been declining smoothly, but trading is virtually lacking volume, which means investors are focused on the news about fiat currencies.
Bitcoin price analysis. Most of the data is based on HitBTC exchange.
On Thursday, September 5th, the Bitcoin (BTC) is slightly declining, trading at $10,542.
On the weekly timeframe, the Bitcoin remains in the ascending channel; however, a decline to the support line may turn into a breakaway and a decline to the psychologically important level of $7,000.
On the weekly timeframe the Bitcoin keeps demonstrating an uptrend, preparing a new impulse of growth after a declining correction.
