THELOGICALINDIAN - Key Points
Bitcoin amount grinded college adjoin the US dollar for a move appear $1200. More assets are accessible activity assiduously in BTC/USD.
Bitcoin Price Buy Dips?
There was a solid buying interest for Bitcoin adjoin the US Dollar, as the amount confused accomplished $1100. The BTC/USD brace was about able to claiming the $1200, and traded as aerial as $1194 (data augment from SimpleFX). Once there was a breach aloft the aftermost beat aerial of $1114, the amount acquired clip and confused accomplished $1180. Later, it begin attrition abreast $1194 and started a correction.
During the dip, the amount confused beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $916 low $1194 high. However, the downside alteration was strong, which pushed the amount appear $1080 area it begin support. The aforementioned akin was additionally the 38.2% Fib retracement akin of the aftermost beachcomber from the $916 low $1194 high. So, we can say it may accept completed a alteration arrangement and could barter aback appear $1150.
If there is an addendum of the correction, the amount ability analysis the aftermost week’s highlighted bullish trend line on the 4-hours blueprint at $1060. The 100 simple affective boilerplate (H4) is additionally positioned aloof beneath the trend line. Overall, it looks like the amount is able-bodied accurate on the downside, and affairs dips abreast $1080 and $1060 ability be considered.
Looking at the abstruse indicators:
4-hours MACD – The MACD is in the bullish zone, but hardly abbreviation the slope.
4-hours RSI (Relative Strength Index) – The RSI has adapted from the overbought levels, and testing the 50 level.
Major Support Level – $1060
Major Resistance Level – $1140
Charts address – SimpleFX
