THELOGICALINDIAN - Bitcoin climbed college aloft 9500 but it struggled to bright 9600 adjoin the US Dollar BTC is now acclimation assets and it seems like there is a bullish banderole basic with attrition at 9450
Bitcoin Price Could Continue Higher
After a able accretion wave, bitcoin amount continued its acceleration aloft the $9,500 resistance adjoin the US Dollar. BTC alike surpassed the $9,580 level, but it faced sellers abreast the $9,600 level.
A aerial is formed abreast $9,595 and the amount is currently acclimation lower. It beneath beneath the $9,500 akin and the 100 alternate simple affective average. The abatement was such that the amount alike activated the 50% Fib retracement akin of the accretion beachcomber from the $8,907 beat low to $9,595 beat high.
It seems like there is a bullish banderole arrangement is acceptable basic with accepted attrition abreast $9,450 on the alternate blueprint of the BTC/USD pair. To abide higher, bitcoin charge breach the approach attrition area at $9,450.
An actual attrition is abreast the $9,500 level, aloft which the beasts are acceptable to aim a bright breach aloft the $9,600 attrition zone. The abutting above attrition is apparent abreast the $9,800 level, followed by the all-important $10,000 barrier (as discussed in yesterday’s assay application the circadian chart).
Downside Break in BTC?
If bitcoin struggles to beat the approach attrition and $9,500, there is a accident of addition bearish reaction. The aboriginal above abutment is abreast the $9,250 level.
A downside breach beneath the $9,250 abutment could abate the accepted bullish view. In the declared case, the amount could abide to abatement appear $9,080 or the 76.4% Fib retracement akin of the accretion beachcomber from the $8,907 beat low to $9,595 beat high. Any added losses could advance the amount appear $9,000.
Technical indicators:
Hourly MACD – The MACD is boring affective in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently beneath the 50 level, with a bearish angle.
Major Support Levels – $9,250 followed by $9,080.
Major Resistance Levels – $9,450, $9,500 and $9,800.
