THELOGICALINDIAN - Key Points
Bitcoin amount is advancing for added assets aloft $12,000 adjoin the US Dollar. BTC/USD is now able-bodied accurate on the downside at $10,500 and $10,200.
Bitcoin Price Trend
It seems like there is a decent support abject basic aloft $10,000 in bitcoin amount adjoin the US Dollar. The amount formed a basal at $9,781 and it after started an upside move. BTC traded aloft the 23.6% Fib retracement akin of the aftermost bead from the $12,886 aerial to $9,781 low. It opened the doors added assets and the amount was able to move aloft the $11,000 resistance.
More importantly, there was a breach aloft a monster bearish trend band with attrition at $11,000 on the 4-hours blueprint of the BTC/USD pair. The brace seems to be aback in the bullish area with a breach aloft the $11,000 resistance. It is currently trading aloof aloft the 50% Fib retracement akin of the aftermost bead from the $12,886 aerial to $9,781 low. The abutting aloft attrition is about the $12,000 akin and the 100 simple affective boilerplate (4-hours). A acknowledged abutting aloft the $12,000 akin could added spark upsides in bitcoin. Aloft $12,000, the abutting important barrier for buyers is at $12,800.
On the downside, there is a bullish trend band with abutment at $10,500. Overall, the amount charcoal able-bodied accurate aloft $10,500 and it is assertive for added gains.
Looking at the abstruse indicators:
4-hours MACD – The MACD is boring accepting clip in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI is now able-bodied aloft the 50 akin and is affective higher.
Major Support Level – $10,500
Major Resistance Level – $12,000
Charts address – SimpleFX
