THELOGICALINDIAN - Key Points
Bitcoin amount is surging college adjoin the US Dollar. BTC/USD is now set to accretion drive for added assets aloft $5850 and $6000.
Bitcoin Price Bullish Trend
There were nasty gains in Bitcoin amount this accomplished anniversary as it confused aloft the $5500 and $5600 attrition levels adjoin the US Dollar. A new best aerial was formed at $5851 and it seems like the accepted uptrend is not over yet. The amount ability abide to barter college and could breach the $5851 attrition for added gains. Recently, there was a accessory dip from the accepted levels and the amount confused beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $4703 low to $5851 high.
However, the downside move was prevented by $5450 and the 38.2% Fib retracement akin of the aftermost beachcomber from the $4703 low to $5851 high. The brace formed a application triangle arrangement with attrition at $5700. There was a breach aloft it afresh and the amount is now set for more gains aloft $5800. On the downside, there are two above bullish trend curve basic with abutment at $5280 and $5000 on the 4-hours blueprint of BTC/USD.
The accepted trend is acceptable to abide and if buyers abide in control, there are affairs of a breach aloft $6000. Aloft $6000, the abutting hurdle is abutting to $6150.
Looking at the abstruse indicators:
4-hours MACD – The MACD is placed able-bodied in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI is acclimation the overbought levels.
Major Support Level – $5600
Major Resistance Level – $5850
Charts address – SimpleFX
