THELOGICALINDIAN - Bitcoin amount is up added than 5 and it bankrupt the key 9500 and 9700 levels adjoin the US Dollar BTC is acceptable to advance assets aloft 10000 and 10500 in the abreast term
Bitcoin Price Analysis
Yesterday, we discussed the chances of added assets aloft $9,400 in bitcoin amount adjoin the US Dollar. The BTC/USD brace did accretion drive and bankrupt the $9,400 and $9,500 attrition levels. It alike austere the key $9,700 attrition and acclimatized able-bodied aloft the 100 alternate simple affective average. A new 2019 aerial was formed aloft $9,800 abreast $9,814.
At the moment, the amount is accumulation assets aloft the $9,700 level. An actual abutment is abreast the $9,700 level. The 23.6% Fib retracement akin of the contempo move from the $9,295 low to $9,814 aerial is additionally abreast $9,700. The current amount activity is positive and suggests added assets aloft the $9,800 and $9,850 levels.
If there is a downside extension, the amount could analysis the $9,550 support. It represents the 50% Fib retracement akin of the contempo move from the $9,295 low to $9,814 high. Moreover, there is a aloft bullish trend band basic with abutment abreast $9,480 on the alternate blueprint of the BTC/USD pair. As continued as the brace is aloft the trend band support, it could ascend added college appear $10,000. The 61.8% Fib retracement akin of the contempo move from the $9,295 low to $9,814 aerial is additionally abreast the $9,490 level.
If there is a acknowledged abutting aloft $10K barrier, the amount ability assemblage significantly. The abutting stop for the beasts are acceptable to be abreast $10,600 or $10,800, followed by $11K.
Looking at the chart, bitcoin amount is acutely accepting drive aloft $9,650 and $9,700. There are aerial affairs of an upside addendum and fasten aloft $10K in the advancing sessions. If the amount is alone abreast the $10K level, there could be a above downside correction. If not, the beasts are acceptable to advance the amount appear the $10,600 or $10,800 level.
Technical indicators:
Hourly MACD – The MACD is currently placed accurately in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently able-bodied aloft the 70 level.
Major Support Levels – $9,700 followed by $9,550.
Major Resistance Levels – $9,800, $9,950 and $10,000.
