THELOGICALINDIAN - Bitcoin amount is accepting bullish drive aloft 9000 adjoin the US Dollar BTC is acceptable to advance college and it could alike breach the 10000 akin in the abreast term
Bitcoin Price Weekly Analysis (BTC)
This accomplished week, bitcoin amount begin a strong support abreast the $7,500 akin adjoin the US Dollar. As a result, the BTC/USD brace started a able advancement move aloft the $8,000 and $8,500 attrition levels. The amount alike acclimatized aloft the $8,500 attrition and the 100 simple affective boilerplate (4-hours). Moreover, there was a bright breach aloft the $8,800 attrition area.
Finally, the amount acicular aloft the $9,000 akin and it is currently trading with a able bullish bias. On the downside, an antecedent abutment is abreast the $9,000 level. The next support is abreast the $8,800 and $8,780 levels. It represents the 23.6% Fib retracement akin of the aftermost beachcomber from the $8,020 low to $9,027 high. Moreover, there is a above bullish trend band basic with abutment abreast $8,650 on the 4-hours blueprint of the BTC/USD pair.
If there is a downside breach beneath the trend line, the amount could analysis $8,500. The 50% Fib retracement akin of the aftermost beachcomber from the $8,020 low to $9,027 aerial is additionally abreast the $8,520 level. On the upside, an actual attrition is abreast the $9,080 and $9,100 levels. If there is an upside breach aloft $9,100, the amount could billow added college in the advancing sessions.
The abutting ambition for the beasts could be abreast the $9,500 level. However, there are aerial affairs of added assets and the amount ability alike assemblage appear the $10,000 akin in the abreast term.
Looking at the chart, bitcoin amount seems to be trading with a able bullish drive aloft $8,500 and $8,800. Therefore, there are aerial affairs of added upsides aloft the $9,100 and $9,500 levels. On the downside, the $8,800 and $8,500 levels are acceptable to act as above supports for the bulls.
Technical indicators
4 hours MACD – The MACD for BTC/USD is accepting drive in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for BTC/USD is currently in the overbought zone, with no bearish sign.
Major Support Level – $8,500
Major Resistance Level – $9,500
