THELOGICALINDIAN - Key Highlights
Bitcoin amount started to appearance some bullish signs, and looks set for an upside move if buyers footfall in and affected affairs pressure.
¥2160-70 as a Resistance
I accent in the antecedent week’s assay that Bitcoin amount managed to achieve about the ¥1800 abutment area. The amount is currently accumulation in a range, as the Bollinger bands apprenticed on the 4-hours blueprint (price augment from BTCChina). An antecedent attrition for the upside move can be about the Upper Bollinger Band, ancillary with the 23.6% Fib retracement akin of the aftermost bead from the ¥3350 high to ¥1807 low at ¥2169.
BTCCNY afresh fell abutting to ¥2024 breadth it begin buyers and traded aback higher. There was a bearish trend band formed on the alternate blueprint (price augment from Huobi), which was burst to burn an upside move. Moreover, the 50 Fib retracement akin of the aftermost move from the ¥2150 high to ¥2024 low was additionally cleared. The amount is currently disturbing to bright the 100 alternate simple affective boilerplate (MA) assemblage area.
It looks like the amount may breach the shackles and barter appear ¥2160 that can be apparent as an antecedent attrition area sellers ability booty a stand.
Hourly MACD – The MACD is in the bullish area and benign added gains.
RSI (Relative Strength Index) – The alternate RSI about the overbought levels, suggesting a achievability of a accessory correction.
On the downside, the burst trend band could act as a abutment if the amount corrects lower from the accepted levels.
Intraday Support Level – ¥2080
Intraday Resistance Level – ¥2160
Charts from BTCChina and Huobi; hosted by Trading View
