THELOGICALINDIAN - Bitcoin is accepting bullish drive and it bankrupt the 9800 attrition area adjoin the US Dollar BTC amount is acceptable to abide college if it settles aloft the 10000 attrition zone
Bitcoin Price Gaining Momentum
After consolidating in a ambit for abounding sessions, bitcoin amount acicular aloft the $9,800 attrition adjoin the US Dollar. BTC acquired drive aloft the $9,880 akin and acclimatized aloft the 100 alternate simple affective average.
During the rise, there was a breach aloft a key application triangle with attrition abreast $9,780 on the alternate chart of the BTC/USD pair. It opened the doors for added assets aloft $9,950 level, but the beasts are still disturbing to accretion backbone aloft the $10,000 attrition zone.
A aerial is formed abreast the $9,998 akin and the amount is currently acclimation lower. It activated the $9,920 akin or the 23.6% Fib retracement akin of the contempo billow from the $9,680 low to $9,998 high.
The aboriginal key abutment is apparent abreast the $9,840 level. It is abutting to the 50% Fib retracement akin of the contempo billow from the $9,680 low to $9,998 high. On the upside, the amount is adverse a huge hurdle abreast the $10,000 level.
If there is a acknowledged circadian abutting aloft the $10,000 resistance, the amount ability acceleration steadily in the advancing sessions. The next key attrition is abreast the $10,500 level, aloft which the beasts are acceptable to aim a analysis of the $11,200 level.
Fresh Decline in BTC?
If bitcoin fails to abide aloft the $10,000 resistance, it could actual lower. The capital abutment is abreast the $9,800 akin (the contempo blemish zone).
The abutting above abutment is abreast the $9,720 akin and the 100 alternate simple affective average, beneath which there is a accident of a aciculate abatement appear the $9,500 akin in the abreast term.
Technical indicators:
Hourly MACD – The MACD is currently assuming absolute signs in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently able-bodied aloft the 65 level.
Major Support Levels – $9,800 followed by $9,720.
Major Resistance Levels – $10,000, $10,200 and $10,500.
