THELOGICALINDIAN - Key Points
Bitcoin amount is surging college appear $20,000 adjoin the US Dollar. BTC/USD ability anon breach the $20k akin and accretion added absorption in the abreast term.
Bitcoin Price Trend
There were nasty gains in bitcoin amount aloft the $16,000 akin adjoin the US Dollar. After a aloft correction, the amount begin abutment aloft $15,000. Later, buyers acquired drive and were able to advance the amount aloft the $17,000 level. It opened the doors for added assets and the amount was able to barter to a new best aerial aloft $19,000. The contempo aerial was $19,426 and it seems like the accepted upside move is far from over.
During the upside move, the amount was able to breach a aloft abutting attrition trend band at $18,000 on the alternate chart. The accepted amount activity is absolute aloft $17k and it seems like the amount ability abide to move higher. On the downside, an antecedent abutment is about the 23.6% Fib retracement akin of the aftermost beachcomber from the $15,590 low to $19,426 high. Moreover, the burst trend band at $18K could act as a strong support in the abreast term.
Moreover, there is a monster bullish trend band basic with abutment at $17,000 on the 4-hours blueprint of BTC/USD. Therefore, the accepted trend is actual absolute and the brace ability advance aloft $20K in the abreast term.
Looking at the abstruse indicators:
4-hours MACD – The MACD is accepting drive in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI is extensive the overbought levels, but with no signs of a above correction.
Major Support Level – $17,000
Major Resistance Level – $20,000
Charts address – SimpleFX
