THELOGICALINDIAN - Key Points
Bitcoin amount surged college aloft $1800 adjoin the US Dollar, and the accepted movement in BTC/USD looks actual bullish for added assets in the abreast term.
Bitcoin Price Trend Line Support
It was a awful anniversary for Bitcoin price, as it connected to accretion drive aloft $1700 adjoin the US Dollar. My view of continuing gains in BTC is arena well. Recently, the amount traded abutting to the $1910 akin from area a alteration was initiated. The amount traded beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $1510 low to $1905 high.
On the downside, a monster bullish trend band with abutment at $1660 on the 4-hours blueprint of BTC/USD was waiting. It acted as a barrier for added declines beneath $1650 and pushed the amount aback higher. There was additionally a analysis of the 61.8% Fib retracement akin of the aftermost beachcomber from the $1510 low to $1905 high. The amount is now aback aloft the $1800 level. It looks like a correction wave is over, and the amount may anon retest the aftermost beat aerial at $1905.
If all goes well, there is a adventitious of added assets aloft $2024. On the downside, we accept two bullish trend curve at $1660 and $1610, which may abide to act as a support. The all-embracing trend is bullish with a adventitious of BTC/USD testing $2024.
Looking at the abstruse indicators:
4-hours MACD – The MACD is currently accepting drive in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI is now aback aloft the 50 akin and branch north.
Major Support Level – $1660
Major Resistance Level – $2024
Charts address – SimpleFX
