THELOGICALINDIAN - Key Points
Bitcoin amount is actual bullish aloft the $9500 akin adjoin the US Dollar. BTC/USD ability anon breach $11,200 for added assets in the abreast term.
Bitcoin Price Bullish Trend
It was an amazing week for bitcoin amount as it confused aloft the $10,000 and $11,000 levels adjoin the US Dollar. The upside move was actual able and the amount traded as aerial as $11,386 afore it faced sellers. The amount adapted acutely lower, but downsides were bound by the $9000 level. There were able bids abreast the mentioned akin $9000, and the amount recovered well.
It confused aback aloft the $10,500 akin and is currently trading about the $10,800 level. It seems like the amount is accumulation and advancing for added assets aloft $11,000. Once there is a breach aloft a bearish trend band at $11,200, there are affairs of BTC affective accomplished $11,400 in the abreast term. The abutting above ambition could be $12,000. On the downside, there are two bullish trend curve basic with supports at $10,300 and $9200 on the 4-hours blueprint of BTC/USD.
The additional trend band is the best important aloft $9200 back it is abreast the 100 simple affective boilerplate (4-hours). As continued as the amount is aloft the $9000-10,000 levels, it charcoal in an uptrend. Upsides targets are $11,800 and $12,000 in the abreast term.
Looking at the abstruse indicators:
4-hours MACD – The MACD is placed accurately in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI is currently able-bodied aloft the 50 akin and is boring affective higher.
Major Support Level – $9200
Major Resistance Level – $12025
Charts address – SimpleFX
