THELOGICALINDIAN - Bitcoin amount is assuming absolute signs aloft the 9800 abutment adjoin the US Dollar BTC amount ability accretion bullish drive already it settles aloft the 9500 resistance
Bitcoin Price Analysis
In yesterday’s analysis, we discussed the affairs of another pullback in bitcoin amount beneath the $10,000 akin adjoin the US Dollar. The BTC/USD brace did move beneath the $10,000 abutment and remained able-bodied beneath the 100 alternate simple affective average. Moreover, there was a breach beneath the $9,960 abutment area, but the $9,800 akin acted as a able support. A beat low was formed abreast $9,721 and the amount started a beginning increase.
There was a accretion aloft the $10,000 and $10,200 attrition levels. Moreover, the amount bankrupt the $10,400 attrition level. However, the amount struggled to accretion bullish drive aloft the $10,500 level. More importantly, the amount struggled to beat the 100 alternate simple affective average, which is currently at $10,450. Besides, there is a key application triangle basic with attrition abreast $10,550 on the alternate blueprint of the BTC/USD pair.
An actual abutment on the downside is abreast the $10,130 level. It represents the 50% Fib retracement akin of the contempo beachcomber from the $9,721 low to $10,542 high. However, the capital supports are abreast the $10,000 and $9,950 levels. Additionally, the 61.8% Fib retracement akin of the contempo beachcomber from the $9,721 low to $10,542 aerial will best acceptable act as a abutment abreast $10,035.
On the upside, the amount charge accretion drive aloft the $10,400 and $10,500 attrition levels. Moreover, a acknowledged abutting aloft the 100 alternate SMA could alpha a able acceleration appear the $10,600 and $10,800 levels. Conversely, if the amount starts a beginning abatement and break the $10,000 support, the abutting key abutment is abreast the $9,800 level.
Looking at the chart, bitcoin amount is acutely assuming a few absolute signs aloft the $10,000 level. Having said that, the beasts charge to accretion drive aloft the 100 alternate SMA and $10,450 to advance the amount added college in the abreast term.
Technical indicators:
Hourly MACD – The MACD is currently affective in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently aloft the 50 level.
Major Support Levels – $10,030 followed by $9,800.
Major Resistance Levels – $10,400, $10,500 and $10,650.
