THELOGICALINDIAN - Key Points
Bitcoin amount is accepting clip adjoin the US Dollar and added cryptocurrencies, and now BTC/USD is all set for a run appear the $3500 level.
Bitcoin Price Rise
Bitcoin amount was under pressure this accomplished anniversary due to the Hard Fork and circumscribed abreast $2700 adjoin the US Dollar. Later, the amount overcame all allowance of the Hard Fork and confused to a new best aerial of $3328. The amount traded with a lot of absolute bent aloft $2500. It bankrupt abounding hurdles on the way up such as the $3000 and $3100 levels. The best important breach was aloft the $2920 pivot, which opened the doors for added gains.
The amount traded as aerial as $3328 and currently placed able-bodied aloft the 100 simple affective boilerplate (H4). A alteration beachcomber was accomplished afresh and the amount is trading abreast $3220. On the downside, an antecedent abutment is about the 23.6% Fib retracement akin of the aftermost beachcomber from the $2644 low to $3328 high. However, the affairs of any aloft declines are bound as continued as the amount is aloft $3000.
The 50% Fib retracement akin of the aftermost beachcomber from the $2644 low to $3328 aerial and the $2950 akin may act as a able support. The amount is acceptable to abide college and ability anon breach the $3300 akin for a run appear $3500.
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 in the overbought zone.
Major Support Level – $3000
Major Resistance Level – $3300
Charts address – SimpleFX
