THELOGICALINDIAN - Bitcoin was alone already afresh abreast the 9300 attrition adjoin the US Dollar BTC is currently convalescent but it charcoal at a accident of added downsides beneath 9000
Bitcoin Price Turns Red
After yet another abortion abreast $9,300, bitcoin started a aciculate abatement adjoin the US Dollar. BTC bankrupt the $9,200 abutment and the 100 alternate simple affective boilerplate to move into a bearish zone.
There was a aciculate abatement beneath the $9,100 and $9,080 levels. More importantly, there was a breach beneath a acute bullish trend band with abutment at $9,185 on the alternate blueprint of the BTC/USD pair.
The brace alike bankrupt the $9,000 akin and traded as low as $8,933. It is currently acclimation college aloft the $9,000 axis level. There was a breach aloft the 23.6% Fib retracement akin of the contempo abatement from the $9,302 aerial to $8,933 low.
BTC is currently trading abreast $9,100 and adverse hurdles abreast the $9,200 level. It seems like the 50% Fib retracement akin of the contempo abatement from the $9,302 aerial to $8,933 low is acting as a resistance.
The aboriginal aloft attrition is abreast the $9,160 akin and the 100 alternate SMA. The abutting hurdle is abreast the $9,200 akin and a abutting bearish trend band on the aforementioned chart. If there is an upside breach aloft $9,160 and $9,200, the amount could revisit the capital $9,300 attrition level.
More Losses in BTC?
It seems like bitcoin amount is acceptable to face a strong resistance abreast $9,160 and $9,200. If it fails to balance aloft $9,200, there are affairs of addition bearish wave.
An antecedent abutment is abreast the $9,000 axis level. A circadian abutting beneath the $9,000 akin could accessible the doors for a beyond abatement appear the $8,800 abutment or $8,500 in the abreast term.
Technical indicators:
Hourly MACD – The MACD is boring affective aback into the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently aloof aloft the 40 level.
Major Support Levels – $9,000, followed by $8,800.
Major Resistance Levels – $9,160, $9,200 and $9,300.
