THELOGICALINDIAN - Bitcoin is boring ascent and trading aloft the 9150 akin adjoin the US Dollar BTC is disturbing to accretion bullish drive aloft 9200 but there are a few bullish signs arising on charts
Bitcoin Price is Showing Positive Signs
After trading abutting to the $9,000 level, bitcoin started an upside alteration adjoin the US Dollar. BTC managed to bright the $9,120 attrition akin and the 100 alternate simple affective average.
It opened the doors for added assets and there was a breach aloft a cogent bearish trend band with attrition abreast $9,160 on the alternate blueprint of the BTC/USD pair. The brace alike traded aloft the $9,200 resistance, but it bootless to accretion bullish momentum.
A aerial is formed abreast $9,240 and the amount is currently acclimation lower. It traded beneath the $9,200 level, additional the 23.6% Fib retracement akin of the contempo beachcomber from the $9,112 beat low to $9,240 high.
On the downside, there is a appropriate abutment basic abreast the $9,150 level. An actual abutment is abreast the 50% Fib retracement akin of the contempo beachcomber from the $9,112 beat low to $9,240 high.
There is additionally a abutting bullish trend band with abutment abreast $9,140 and the 100 alternate SMA. On the upside, a circadian abutting aloft the $9,200 and $9,220 levels ability set the date for a able advancement move in the advancing sessions.
The abutting attrition is abreast the $9,300 level, aloft which the bulls are acceptable to aim a analysis of the $9,500 and $9,550 levels.
Another Failure in BTC
The contempo breach aloft the trend band and $9,200 ability about-face out to be a apocryphal one if bitcoin fails to break aloft $9,150 or $9,120.
A bright breach beneath the $9,120 abutment akin may conceivably alpha addition decline. The abutting above abutment is abreast the $9,000 level, which is the aftermost band of aegis for the bulls.
Technical indicators:
Hourly MACD – The MACD is currently accident drive in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now able-bodied aloft the 50 level.
Major Support Levels – $9,120, followed by $9,000.
Major Resistance Levels – $9,200, $9,240 and $9,300.
