THELOGICALINDIAN - Bitcoin is trading accurately aloft the 9400 abutment area adjoin the US Dollar BTC amount is acceptable to abide college appear 10000 if it clears 9600 and 9750
Bitcoin Price Could Rise Further
After a acknowledged abutting aloft the $9,300 level, bitcoin amount extended its acceleration aloft the $9,400 resistance adjoin the US Dollar. BTC amount alike acclimatized aloft the $9,500 akin and the 100 alternate simple affective average.
It traded as aerial as $9,745 and afresh started a downside correction. It traded beneath the $9,600 and $9,500 levels. However, the antecedent key attrition abreast $9,400 and the 100 alternate simple affective boilerplate acted as above supports.
A low is formed abreast $9,381 and bitcoin is currently rising. There was a breach aloft the 23.6% Fib retracement akin of the key abatement from the $9,745 aerial to $9,381 low.
Moreover, there was a breach aloft a key application triangle with attrition abreast $9,500 on the alternate chart of the BTC/USD pair. The brace is now testing the 50% Fib retracement akin of the key abatement from the $9,745 aerial to $9,381 low.
On the upside, the aboriginal aloft attrition is abreast the $9,600 level. The abutting aloft hurdle is abreast the $9,750 level, aloft which the beasts are acceptable to aim a beyond assemblage appear $10,000 or $10,500 in the abreast term.
Dips Supported in BTC
If bitcoin fails to abide college aloft $9,600 or $9,700, there could be a downside correction. An antecedent abutment is abreast the $9,450 akin or the 100 alternate simple affective average.
The main support is still abreast the $9,400 level, beneath which the amount could extend its abatement appear the .
Technical indicators:
Hourly MACD – The MACD is boring abbreviation its accepted bullish slope.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently able-bodied aloft the 60 level.
Major Support Levels – $9,350 followed by $9,300.
Major Resistance Levels – $9,650, $9,800 and $10,000.
