THELOGICALINDIAN - Bitcoin is trading aloft the 9150 abutment adjoin the US Dollar BTC seems to be advancing for a above access if it succeeds in allowance the 9200 attrition zone
Bitcoin Price is Holding Key Supports
In the accomplished few sessions, bitcoin fabricated a brace of attempts to accretion backbone aloft $9,200 adjoin the US Dollar. However, BTC struggled to achieve aloft the $9,200 resistance and traded in a apprenticed range.
The aftermost beat low was abreast $9,133 and the amount is currently trading aloft the $9,150 level. It additionally acclimatized aloft the $9,150 akin and the 100 alternate simple affective average. The beasts were able to advance the amount aloft the 23.6% Fib retracement akin of the contempo abatement from the $9,238 aerial to $9,133 low.
On the upside, the beasts assume to be adverse a above hurdle abreast the $9,200 level. The contempo accretion bootless to beat the 61.8% Fib retracement akin of the contempo abatement from the $9,238 aerial to $9,133 low.
There is additionally a abutting bearish trend band basic with attrition abreast $9,185 on the alternate blueprint of the BTC/USD. If the brace break the trend band attrition and settles aloft $9,200, it could abide to climb. The abutting attrition is abreast the $9,300 level, aloft which the abutting stop could be $9,500 or $9,550.
BTC’s Breakdown Support
On the downside, there is a acute bullish trend band basic with abutment abreast $9,155 on the aforementioned chart. The trend band abutment is abutting to the 100 alternate SMA.
If there is a bearish breach beneath the $9,150 abutment and the 100 alternate SMA, the beasts are acceptable to face an access in affairs pressure. Any added losses beneath $9,120 could advance the amount appear the capital $9,000 support.
Technical indicators:
Hourly MACD – The MACD is currently accident drive in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is aloof aloft the 50 level.
Major Support Levels – $9,150, followed by $9,120.
Major Resistance Levels – $9,200, $9,240 and $9,300.
