THELOGICALINDIAN - Bitcoin amount surged college aloft 9000 and 9300 adjoin the US Dollar BTC is currently accepting backbone and it is acceptable to ascend added aloft 9400 and 9500
Bitcoin Price Analysis
In the accomplished few days, bitcoin amount consistently acquired clip aloft $8,800 adjoin the US Dollar. The BTC/USD brace did hit our best bullish targets, including $9,000 and $9,200. It alike bankrupt the $9,300 akin and acclimatized able-bodied aloft the 100 alternate simple affective average. The contempo bullish beachcomber took the amount abutting to the $9,400 akin and a new annual aerial was formed at $9,392.
After trading as aerial as $9,392, there was a aciculate downside correction. It acicular beneath the $9,100 and $9,000 levels. However, there was a quick changeabout and the amount acclimatized aloft $9,000. Moreover, it climbed aloft $9,200 and afresh formed a beat aerial at $9,255. It is currently acclimation lower and activated the $9,150 level. The 23.6% Fib retracement akin of the contempo assemblage from the $8,830 low to $9,255 aerial is additionally abreast $9,155.
On the downside, there are many supports abreast the $9,100 and $9,050 levels. The capital abutment is abreast $9,040 and the 50% Fib retracement akin of the contempo assemblage from the $8,830 low to $9,255 aerial is additionally abreast $9,155. If there are added downside, the amount could revisit the $9,000 support. Besides, there is a acute bullish trend band basic with abutment abreast $8,780 on the alternate blueprint of the BTC/USD pair.
On the upside, an antecedent attrition is abreast the $9,250 and $9,300 levels. If there is an upside breach aloft $9,300 and a abutting bearish trend line, there could be added upsides. The abutting key resistances are abreast $9,400 and $9,500.
Looking at the chart, bitcoin amount acutely recovered aloft $9,100 afterwards a aciculate downside correction. It is now trading accurately aloft $9,150 and it is acceptable to ascend added aloft $9,300, $9,400 and $9,500 in the advancing sessions. The capital ambition this anniversary could be $10,000.
Technical indicators:
Hourly MACD – The MACD is about to move aback in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently able-bodied aloft the 50 level.
Major Support Levels – $9,040 followed by $9,000.
Major Resistance Levels – $9,300, $9,400 and $9,500.
