THELOGICALINDIAN - Key Points
Bitcoin amount looks like started an upside move aloft $1120 adjoin the US Dollar found, and BTC/USD now looks assertive for added upsides in the abreast term.
Bitcoin Price Support
There is an increase in affairs interest for the BTC, as it amount bankrupt a brace of hurdles like $1100 and $1120 adjoin the US Dollar. The amount acquired drive and managed to barter appear $1200. It is a absolute sign, and shows that the amount has accustomed a acceptable bent aloft the $1120 abutment area. The contempo aerial was $1204 from area the amount started a accessory dip.
There are abounding abutment levels on the downside started $1170. There are a few bullish trend curve formed with abutment at $1160 and $1140 on the 4-hours blueprint BTC/USD. These trend curve may act as a able abutment if the amount dips from the $1200 beat high. We can accumulate a abutting eye on the $1160 and $1140 abutment levels to access a concise buy trade. Furthermore, the 23.6% Fib retracement akin of the aftermost beachcomber from the $890 low to $104 aerial is additionally accumbent on the downside.
So, the best important immediate support can be abreast $1130. As continued as the amount is aloft the mentioned level, there can be an attack to achieve aloft $1200. Aloft $1200, the abutting hurdle is about $1228.
Looking at the abstruse indicators:
4-hours MACD – The MACD is now accustomed in the bullish slope.
4-hours RSI (Relative Strength Index) – The RSI is currently trading abreast the 70 level, and assuming absolute signs.
Major Support Level – $1130
Major Resistance Level – $1200
Charts address – SimpleFX
