THELOGICALINDIAN - Key Points
Bitcoin amount charcoal in a aloft uptrend aloft $5600 adjoin the US Dollar. BTC/USD ability alike barter accomplished $6200 in the abreast term.
Bitcoin Price Uptrend Intact
This accomplished anniversary was mainly bullish for Bitcoin amount as it confused aloft the $6000 handle adjoin the US Dollar. A new best aerial was formed abreast $6170 as buyers were absolutely in control. Earlier, there was a dip from the $5750 beat aerial appear the $5100 handle area buyers emerged. Mainly, a monster bullish trend band with accepted abutment at $5510 on the 4-hours blueprint of BTC/USD prevented declines. It acted as a aloft abutment area aloft $5100.
The brace acicular college and traded as aerial as $6171. At the moment, the brace is acclimation lower and trading abreast the 23.6% Fib retracement akin of the aftermost beachcomber from the $5097 low to $6171 high. A attrition trend band acted as a barrier for added assets abreast $6170 and afire a correction. On the downside, there is a concise trend band with abutment at $5750.
The trend band abutment is additionally abutting to the 38.2% Fib retracement akin of the aftermost beachcomber from the $5097 low to $6171 high. Therefore, any dips from the accepted levels abide accurate abreast $5750. Below $5750, the capital bullish trend band at $5510 ability appear into the picture. The all-embracing trend charcoal bullish as continued as the amount is aloft $5500.
Looking at the abstruse indicators:
4-hours MACD – The MACD is acerb placed in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI is currently affective appear the 55-50 levels.
Major Support Level – $5750
Major Resistance Level – $6170
Charts address – SimpleFX
