THELOGICALINDIAN - Bitcoin bootless to balance aloft 39500 and beneath adjoin the US Dollar BTC charcoal at a accident of added losses and could alike analysis 35000
Bitcoin Price Remains At Risk
Bitcoin amount attempted an upside alteration aloft the $38,800 attrition level. However, BTC struggled to balance aloft the $39,500 and $40,000 attrition levels.
A aerial was formed abreast $39,490 and the amount started a beginning decline. There was a bright move beneath the $38,800 and $38,000 abutment levels. The amount traded beneath the $37,000 akin and the 100 alternate simple affective average.
A low is formed abreast $36,782 and bitcoin is now accumulation losses. On the upside, an antecedent attrition is abreast the $37,420. It is abreast the 23.6% Fib retracement akin of the contempo abatement from the $39,490 beat aerial to $36,782 low.
The abutting key attrition is abreast the $38,200 level. The 50% Fib retracement akin of the contempo abatement from the $39,490 beat aerial to $36,782 low is additionally abreast the $38,200 zone. More importantly, there is a above bearish trend band basic with attrition abreast $38,850 on the alternate blueprint of the BTC/USD pair.
A bright move aloft the trend band attrition could accelerate the amount to $39,400 and the 100 alternate simple affective average. To move into a absolute zone, the amount charge achieve aloft the $40,000 level.
More Losses in BTC?
If bitcoin fails to alpha a accretion beachcomber aloft the $38,850 attrition zone, it could abide to move down. An actual abutment on the downside is abreast the $36,800 zone.
The abutting above abutment is apparent abreast the $36,500 level. If there is a downside breach beneath the $36,500 abutment zone, the amount ability accretion bearish drive for a move to $35,000.
Technical indicators:
Hourly MACD – The MACD is now accepting clip in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is able-bodied aloft the 50 level.
Major Support Levels – $36,800, followed by $36,500.
Major Resistance Levels – $38,200, $38,500 and $39,500.
