THELOGICALINDIAN - Key Points
Bitcoin amount surged aloft $17,000 adjoin the US Dollar. BTC/USD is currently beneath a alteration approach and it ability analysis the $12,000 level.
Bitcoin Price Supports
It was a super bullish week for bitcoin amount as it confused surged aloft the $15,000 akin adjoin the US Dollar. The upside move was such that the amount confused aloft the $17,000 akin and formed a aerial at $17,095. Later, the amount faced a able attrition and started a downside alteration from $17,000. It has confused beneath the 38.2% Fib retracement akin of the aftermost beachcomber from the $8968 low to $17,095 high.
At the moment, the amount is testing a above abutment at $13,000. There is a key bullish trend band basic with abutment at $13,000 on the 4-hours blueprint of BTC/USD. The trend band abutment is about the 50% Fib retracement akin of the aftermost beachcomber from the $8968 low to $17,095 high. There are affairs of added losses in the abreast appellation beneath $13,000. Once there is a breach beneath the trend band support, there can be an addendum appear $12,000. The mentioned akin is about the 61.8% Fib retracement akin of the aftermost beachcomber from the $8968 low to $17,095 high.
The all-embracing trend is absolute aloft the $12,000 level. Once the accepted alteration is over, the amount will best acceptable resume its uptrend aloft $15,000.
Looking at the abstruse indicators:
4-hours MACD – The MACD is currently abbreviation its bullish slope.
4-hours RSI (Relative Strength Index) – The RSI is currently beneath the 50 akin and is affective lower.
Major Support Level – $12,000
Major Resistance Level – $15,000
Charts address – SimpleFX
