Bitcoin (BTC) Reflects Signs of Recovery; Gets Above $6800 Overnight

Bitcoin (BTC) News

Bitcoin has managed to stall its downside correction for a day. Over the last 24 hours, there has not been any significant loss in its value. Most of the time, the BTC price was being traded above $6800. There may be a gaining spree on the way. As per the current momentum, the currency might cross the $7k price level in the upcoming hours.

Bitcoin Price Analysis

The last week has been significantly volatile for the BTC/USD. By April 10, it was trending beyond $7200 with a stable outlook. But over the last four days, it has been struggling below $7000.

Bitcoin (BTC) Price News

Yesterday, Bitcoin started dealing at $6908.12, and over the next 32 minutes, it faced a steep fall and reached $6585. However, from this low, BTC price escalated by a 3.92% hike that added $258 in the value and pushed it to $6843.21 by 11:40 UTC. The next major swing occurred between 13:58 & 00:04 UTC. Over these 10 hours, Bitcoin witnessed another upsurge of 4.16% and got to $6894.23.

The current price of BTC at $6853.63 is trending above its daily MAs, namely, 20 days MA and 50 days MA. The RSI has shown a moderate improvement, and it is now at 57.15 points. As per the technicals, the Bitcoin price might cross the $7000 level in the upcoming hours.

Betty Keene

Betty Keene

Betty Keene is passionate about learning languages, cultures and the Internet. She has years of experience working at international online advertising projects. Growing interested in Bitcoin and Cryptocurrencies in late 2017, she recently joined our growing team as a writer.

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