THELOGICALINDIAN - Key Points
Bitcoin amount acquired appropriate bullish drive aloft $2700 adjoin the US Dollar, and it looks like BTC/USD is advancing for a move appear $3000.
Bitcoin Price Support Zone
In the aftermost account analysis, I mentioned that there is a absolute adventitious of Bitcoin amount retesting $2684 against the US Dollar. The amount did accretion pace, and traded college for a move appear $2700. It additionally managed to barter to a new best aerial at $2285. The amount is currently acclimation lower, but charcoal able-bodied accurate aloft $2700. It afresh confused beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $2566 low to $2885 high.
However, the downside move was prevented beneath $2700. There is a key bullish trend band with abutment at $2750 basic on the 4-hours blueprint of BTC/USD. It is preventing downsides and captivation losses beneath $2750. Moreover, the 50% Fib retracement akin of the aftermost beachcomber from the $2566 low to $2885 aerial is additionally captivation losses actual well. Beneath $2750, there is addition bullish trend line aloof aloft $2700.
Overall, there are abounding supports on the downside, starting with $2780 up to $2700. As continued as the amount stays aloft these supports, there can be a breach aloft $2880. However, the declared akin is acting as a able resistance, but may not be able to anticipate assets appear $3000.
Looking at the abstruse indicators:
4-hours MACD – The MACD is abbreviation the bullish zone, but assuming absolute signs.
4-hours RSI (Relative Strength Index) – The RSI is currently affective lower, but charcoal able-bodied aloft the 50 level.
Major Support Level – $2700
Major Resistance Level – $2880
Charts address – SimpleFX
