Bitcoin Price Analysis: BTC Remains Above $6.8k Despite Tremendous Volatility

Bitcoin (BTC) News

Bitcoin has started the week with a stable outlook. Throughout the last 24 hours, it has been standing near $6800 price level. The loss remains at a meager of 0.79% in this period. Investors may expect a slight improvement in the upcoming days.

Bitcoin Price Analysis

The currency registers moderate bullish influence over the seven days. The BTC price was trading at $6400 at the beginning of this month. Then, gradually, it increased its price level, and on April 03, the price touched $7k mark, however, then it fell to $6700 mark, but over the last 24 hours, Bitcoin regained $6800 mark.

Bitcoin (BTC) Price News

BTC/USD opened the day at $6896.60, and over the next 4 hours and 26 minutes, the price was dropped by 2.10% and got confined at $6752. It was followed by a 1.05% hike that added $70.69 in the value and pushed Bitcoin price to $6822.68 by 13:44 UTC. After that, in the next 3 hours, the coin marked regression, and the coin lost 1.94% value. However, from there, the BTC price witnessed a strong recovery. By 00:58 UTC today, the currency managed to elevate its value by 2.75% and touched $6875.

At the time of writing, the price of Bitcoin faced slight downside movement and reached $6841, and its lack of support from its daily moving averages. Its RSI stands at 41.96 points, and it is tilted downwards. As per current momentum, Bitcoin prices may see a moderate fall in the upcoming hours. The next support seems likely around $6710.

Jeffrey Lampkins

Jeffrey Lampkins is a financial professional. He has experience in actively contributing to the Bitcoin industry by providing credible, interesting and easy to read content. His main focus is on Bitcoin price analysis and industry-based news coverage.

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