THELOGICALINDIAN - Bitcoin is adverse an acclivous assignment abreast 9300 and 9400 adjoin the US Dollar BTC seems to be advancing for the abutting big move either aloft 9400 or beneath 9000
Bitcoin Price is Approaching Next Significant Break
Recently, bitcoin fabricated addition attack to accretion backbone aloft $9,300 adjoin the US Dollar. BTC retested the $9,330 attrition zone, which prevented an upside breach already again.
A aerial was formed abreast $9,333 and the amount started a beginning decline. It traded beneath the $9,250 and $9,220 levels. There was additionally a abutting beneath the $9,250 akin and the 100 alternate simple affective average.
A low is formed abreast $9,194 and it seems like the amount is captivation the $9,200 abutment zone. An actual attrition is abreast the $9,240 akin or the 100 alternate simple affective average. The aboriginal above attrition is abreast the 50% Fib retracement akin of the contempo abatement from the $9,333 aerial to $9,194 low.
The abutting key hurdle is basic abreast the $9,300 level. It is abutting to the 76.4% Fib retracement akin of the contempo abatement from the $9,333 aerial to $9,194 low. More importantly, there is a acute blemish arrangement basic with attrition abreast $9,300 and $9,360 on the alternate blueprint of the BTC/USD pair.
To alpha a able access and a rally, the amount charge accretion backbone aloft the $9,300, $9,330 and $9,360 attrition levels. Finally, a successful abutting aloft the $9,400 axis level could accessible the doors for a beyond advancement move.
Bearish Break in BTC
Bitcoin amount seems to be captivation the $9,200 and $9,120 abutment levels. If it continues to attempt abreast $9,300, there is a accident of a downside break.
A able abutting beneath the $9,120 abutment area may conceivably alpha a cogent bearish move. The abutting abutment could be $9,000, followed by the $8,800 account axis level.
Technical indicators:
Hourly MACD – The MACD is currently accepting drive in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now able-bodied beneath the 50 level.
Major Support Levels – $9,200, followed by $9,120.
Major Resistance Levels – $9,260, $9,300 and $9,360.
