THELOGICALINDIAN - Bitcoin is disturbing to break aloft the 11200 attrition akin adjoin the US Dollar BTC is currently acclimation lower and it could abide to move bottomward appear 10700
Bitcoin Price Struggling To Clear $11,400
Bitcoin amount fabricated addition attack to beat the $11,400 resistance adjoin the US Dollar, but it failed. BTC bootless to break aloft the $11,200 akin and formed an intraday aerial abreast the $11,349 level.
It is currently acclimation lower beneath $11,200, but it is able-bodied aloft the 100 alternate simple affective average. During the contempo decline, there was a breach beneath a key bullish trend band with abutment abreast $11,150 on the alternate blueprint of the BTC/USD pair.
The brace is now abutting the $10,950 support. It is abutting to the 50% Fib retracement akin of the advancement beachcomber from $10,581 beat low to $11,349 high. The aboriginal above abutment is abreast the $10,850 level.
The abutting above abutment is abreast the $10,700 akin (a multi-touch zone). An average abutment ability be the 76.4% Fib retracement akin of the advancement beachcomber from $10,581 beat low to $11,349 aerial at $10,760.
If the beasts abort to assure the $10,700 abutment level, the amount could analysis the 100 alternate simple affective average. Any added losses may conceivably advance the amount appear the capital $10,300 abutment zone.
Dips in BTC Present Buying Opportunity?
Clearly, bitcoin is assuming aboriginal signs of attempt abreast the $11,200 and $11,400 levels. Having said that, the accepted accumulation could be aloof a alliance appearance aloft $10,700 and $10,300.
As continued as the amount is trading aloft the $10,700 and $10,300 abutment levels, it is acceptable to resume its advancement move. Any added losses may apparently alpha an continued downside alteration and the amount could alike dive beneath the $10,000 support.
Technical indicators:
Hourly MACD – The MACD is currently accepting clip in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now beneath the 50 level, with bearish signs.
Major Support Levels – $10,850, followed by $10,700.
Major Resistance Levels – $11,200, $11,400 and $11,500.
