THELOGICALINDIAN - Bitcoin is up added than 2 today and it is trading aloft 9500 adjoin the US Dollar BTC is trading in a absolute area and it could assemblage aloft the 9800 and 10000 attrition levels
Bitcoin Remains In Uptrend
This accomplished week, bitcoin popped college and bankrupt the $9,300 attrition breadth adjoin the US Dollar. BTC amount traded with a absolute bent and acclimatized aloft the $9,300 akin and the 100 simple affective boilerplate (4-hours).
There was a accessory downside alteration from the $9,600 zone, but the aforementioned $9,300 breadth acted as a support. The amount remained abiding and traded aloft the 61.8% Fib retracement akin of the key abatement from the $9,943 aerial to $8,650 low.
Moreover, there was a breach aloft a key bearish trend band with attrition abreast $9,570 on the 4-hours chart of the BTC/USD pair. Bitcoin is now trading accurately aloft the 76.4% Fib retracement akin of the key abatement from the $9,943 aerial to $8,650 low.
It seems like the amount is acceptable to abide college appear the $9,750 and $9,800 levels. The aboriginal aloft attrition is abreast the $9,950 and $10,000 levels. The abutting aloft hurdle for the beasts is abreast the $10,500 level, aloft which the amount is acceptable to billow college appear the $11,200 and $11,500 levels.
Dips Supported in BTC
In the abbreviate term, bitcoin amount ability actual lower beneath $9,600. An antecedent abutment is abreast the burst trend band or $9,580. The aboriginal key abutment is abreast the $9,430 akin and a abutting bullish trend band on the aforementioned chart.
The capital abutment is basic abreast the $9,300 akin and the 100 simple affective boilerplate (4-hours). Any added losses may conceivably alpha a above abatement and the amount ability revisit the $9,000 akin or $8,800.
Technical indicators
4 hours MACD – The MACD for BTC/USD is accepting clip in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for BTC/USD is currently able-bodied aloft the 60 level.
Major Support Level – $9,300
Major Resistance Level – $9,950
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