THELOGICALINDIAN - Bitcoin amount is acceptable ambience up for the abutting aloft breach adjoin the US Dollar BTC charcoal able-bodied accurate aloft 9000 and it could ascend college appear 10000
Bitcoin Price Analysis
Recently, bitcoin amount climbed appear the $10,000 attrition area adjoin the US Dollar. However, BTC bootless to abide college and formed a aerial abreast the $9,935 level.
Later, there was a beginning abatement beneath the $9,600 and $9,500 abutment levels. The amount traded abutting to the $9,100 abutment breadth and remained able-bodied bid aloft the 100 alternate simple affective average. The contempo low was abreast $9,194 and the amount is currently aggressive steadily.
There was a breach aloft the 23.6% Fib retracement akin of the contempo abatement from the $9,935 aerial to $9,194 beat low. At the outset, bitcoin is testing the $9,500 and $9,550 attrition levels. Additionally, there is a abutting bearish trend band basic with attrition abreast $9,560 on the alternate blueprint of the BTC/USD pair.
More importantly, the 50% Fib retracement akin of the contempo abatement from the $9,935 aerial to $9,194 beat low is acting as a hurdle for the bulls. Therefore, an upside breach aloft the $9,550 and $9,600 levels is bare for a beginning increase.
The abutting aloft attrition is abreast the $9,720 level, aloft which the price could acceleration steadily appear the $10,000 attrition area. If the amount accelerates aloft $10,000, it could revisit the $10,500 zone.
Conversely, if the amount fails to breach the $9,550 and $9,600 attrition levels, there could be addition bottomward move. An actual abutment is abreast the $9,200 area. Having said that, the capital abutment is abreast the $9,000 akin and the 100 alternate SMA.
Looking at the chart, bitcoin seems to be accumulation accurately aloft the $9,000 and $9,200 levels. As continued as there is no abutting beneath the 100 alternate SMA, there are affairs of a beginning access appear the $10,000 and $10,200 levels in the advancing sessions.
Technical indicators:
Hourly MACD – The MACD is assuming absolute signs in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is affective college and it is currently abreast the 50 level.
Major Support Levels – $9,200 followed by $9,000.
Major Resistance Levels – $9,550, $9,600 and $9,720.
