THELOGICALINDIAN - Bitcoin Price Key Highlights
Bitcoin amount appears to accept begin abutment at the 38.2% Fib but is still defective cogent upside momentum, hinting that a beyond alteration ability booty place.
Dollar weakness has spurred best of the bitcoin amount assets recently, as the US bill awash off on weaker expectations of a Fed absorption amount backpack by the end of the year. Another beachcomber of dollar affairs ability be seen, as FOMC arch Janet Yellen is set to accord a affidavit aural the week.
In that case, bitcoin amount could already accomplish a able animation off the accepted levels, which accompany with the 100 SMA. The concise affective boilerplate is affective added aloft the longer-term 200 SMA, absorption a auto in bullish momentum.
If amount resumes its uptrend, a analysis of the antecedent highs at $272 ability be seen. On the added hand, a beyond alteration could booty amount bottomward to the 61.8% Fib at $254 abreast the 200 SMA. Stochastic is pointing bottomward for now, which agency that sellers are still active, but RSI is suggesting a acknowledgment in bullish drive eventually or later.
Intraday abutment level – $260
Intraday attrition level – $272
Charts from TradingView
