THELOGICALINDIAN - Bitcoin amount is extending its assemblage aloft the 6450 akin adjoin the US Dollar BTC is afterward a solid bullish aisle and it seems like it could alike analysis the 6800 akin in the abreast term
Bitcoin Price Analysis
Yesterday, we saw a able acceleration in bitcoin amount aloft the $6,200 attrition breadth adjoin the US Dollar. The BTC/USD brace alike bankrupt the $6,350 akin and acclimatized able-bodied aloft the 100 alternate simple affective average. As a result, the beasts are in ascendancy and they were acknowledged in allowance a above attrition breadth abreast the $6,400 level. Earlier, there was a accessory dip, but the $6,280 and $6,300 levels provided support. As a result, the amount bounced aback and bankrupt the $6,450 level.
It afresh activated the $6,500 akin and is currently accumulation gains. An antecedent abutment is abreast $6,440, and the 23.6% Fib retracement akin of the contempo beachcomber from the $6,245 low to $6,500 high. However, the capital abutment is abreast the antecedent blemish breadth at $6,400. Besides, the 50% Fib retracement akin of the contempo beachcomber from the $6,245 low to $6,500 aerial is additionally abreast the $6,400 akin to act as a able support. Below $6,400, the amount may abatement aback appear the $6,250 abutment area.
More importantly, yesterday’s accent important bullish trend band is complete with abutment at $6,060 on the alternate blueprint of the BTC/USD pair. The brace is acutely in a able uptrend and it seems like it could alike breach the $6,550 and $6,600 levels in the advancing sessions. As a result, the capital ambition for the beasts could abreast the $6,800 and $6,850 levels (as acicular out in one of the previous assay with the circadian chart).
Looking at the chart, bitcoin amount is accepting absorption aloft the $6,400 level. There may be a brace of beat moves appear $6,400 or $6,300, but dips abide able-bodied supported. Only a abutting beneath the $6,000 axis akin and the 100 alternate SMA could alpha a able correction.
Technical indicators:
Hourly MACD – The MACD is about to accretion drive in the bullish zone, with bullish signs.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is affective college appear the 75 level.
Major Support Levels – $6,400 followed by $6,250.
Major Resistance Levels – $6,500, $6,600 and $6,800.
