THELOGICALINDIAN - Bitcoin amount is beneath a lot of burden beneath 10250 and 10400 adjoin the US Dollar BTC amount ability abatement heavily if there is a able abutting beneath 10000
Bitcoin Price Analysis
After trading as aerial as $10,704, bitcoin started a abiding decline adjoin the US Dollar. The amount bankrupt the $10,500 and $10,400 abutment levels to move into a bearish zone. Moreover, there was a abutting beneath $10,400 and the 100 alternate simple affective average. The amount alike bankrupt the $10,200 abutment afresh and traded appear the $10,000 abutment level. A beat low was formed abreast $10,010 and the amount is acutely afterward a bearish path.
On the upside, an actual attrition is abreast the $10,150 akin and the 100 alternate simple affective average. Moreover, the 23.6% Fib retracement akin of the contempo accelerate from the $10,704 aerial to $10,010 low is additionally abreast $10,175. More importantly, yesterday’s accent bearish trend band with attrition abreast $10,170 is complete on the alternate blueprint of the BTC/USD pair.
Above the trend band and the 100 alternate SMA, the amount could balance appear the $10,400 attrition area. Additionally, the 50% Fib retracement akin of the contempo accelerate from the $10,704 aerial to $10,010 low is additionally cat-and-mouse abreast the $10,350 akin to stop an advancement move. If there is a breach aloft the $10,350 and $10,400 levels, the amount could revisit the main $10,500 attrition level.
On the added hand, if there is no upside breach aloft $10,200, the amount could abide to move down. The capital abutment on the downside is abreast the $10,000 level. A acknowledged abutting beneath $10,000 ability alpha a able decline. The abutting supports are abreast $9,900 and $9,800, beneath which the amount could analysis $9,500.
Looking at the chart, bitcoin amount is afterward a bearish aisle beneath $10,200. Therefore, there are aerial affairs of added losses beneath the $10,000 support. Only a abutting aloft $10,200 and a chase through aloft $10,350 ability abatement the accepted bearish pressure.
Technical indicators:
Hourly MACD – The MACD is boring accident drive in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is ascent appear the 50 level.
Major Support Levels – $10,000 followed by $9,800.
Major Resistance Levels – $10,170, $10,200 and $10,400.
