THELOGICALINDIAN - Bitcoin continued its acceleration aloft the 9600 attrition akin adjoin the US Dollar BTC is currently acclimation assets but it is acceptable to abide college as continued as it is aloft 9500
Bitcoin Price Settles Above $9,500
After a successful breach aloft $9,500, bitcoin continued its assemblage aloft the $9,600 akin adjoin the US Dollar. BTC alike bankrupt the $9,650 akin and acclimatized able-bodied aloft the 100 alternate simple affective average.
It traded to a new account aerial at $9,676 and it is currently acclimation lower. There was a breach beneath the $9,600 level, additional the 23.6% Fib retracement akin of the contempo advancement move from the $9,465 beat low to $9,676 high.
The amount is now abutting the $9,550 abutment breadth (the contempo blemish area). It is abutting to the 50% Fib retracement akin of the contempo advancement move from the $9,465 beat low to $9,676 high. More importantly, there is a acute bullish trend band basic with abutment abreast $9,510 on the alternate blueprint of the BTC/USD pair.
As continued as the amount is aloft the trend band support, the price could resume its upside aloft the $9,600 level. An antecedent hurdle is abreast the $9,650 level, aloft which the amount ability ascend appear $9,800. The capital ambition for the beasts in the advancing sessions may apparently be $10,000.
Dips Likely Supported in BTC
If bitcoin corrects lower, the trend band abutment and $9,500 ability comedy a above role. If there is a breach beneath the trend band support, the amount could abide to move bottomward appear the $9,420 abutment area.
Any added losses may conceivably accessible the doors for a analysis of the $9,350 akin or the 100 alternate simple affective average. The abutting above abutment is abreast the $9,300 level.
Technical indicators:
Hourly MACD – The MACD is boring affective in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is acclimation lower appear the 50 level.
Major Support Levels – $9,500, followed by $9,420.
Major Resistance Levels – $9,650, $9,800 and $10,000.
