THELOGICALINDIAN - Bitcoin amount is trading with a bullish accent aloft 9300 adjoin the US Dollar BTC is acceptable to barter to a new 2024 aerial this anniversary as continued as it is aloft 9050
Bitcoin Price Analysis
After basic a abutment abject abreast $9,000, bitcoin amount started a beginning increase adjoin the US Dollar. The BTC/USD brace traded college aloft the $9,100 and $9,120 attrition levels. A beat low was formed at $9,052 and the amount afresh acclimatized aloft $9,200. It alike traded aloft the $9,300 akin and is currently trading able-bodied aloft the 100 alternate simple affective average.
Moreover, there was a breach aloft a above application triangle with attrition abreast $9,130 on the alternate blueprint of the BTC/USD pair. On the upside, the $9,400 breadth seems to be acting as a acute barrier. The contempo aerial was formed at $9,371 and the amount is currently acclimation lower. It is testing the 23.6% Fib retracement akin of the advancement move from the $9,052 low to $9,371 high.
On the downside, there are a few key supports arresting abreast the $9,200 and $9,175 levels. Moreover, an actual abutment is $9,210 and the 50% Fib retracement akin of the upward move from the $9,052 low to $9,371 high. If there are added losses, the amount ability analysis the $9,175 abutment and the 100 alternate simple affective average.
Besides, the 61.8% Fib retracement akin of the advancement move from the $9,052 low to $9,371 aerial is additionally abreast $9,175. Therefore, as continued as the amount is aloft $9,175, it could accomplish addition attack to beat the $9,375 and $9,400 levels. If it succeeds, there could be a new 2024 aerial aloft the $9,450 level.
Looking at the chart, bitcoin amount seems to be trading in a ample ambit beneath the $9,400 resistance. The capital ambit supports are abreast $9,050 and $9,000. If there is a circadian abutting beneath the $9,000 level, the amount could alpha an continued downside alteration appear $8,750 in the abreast term.
Technical indicators:
Hourly MACD – The MACD is currently accepting drive in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently acclimation lower appear the 60 level.
Major Support Levels – $9,210 followed by $9,175.
Major Resistance Levels – $9,375, $9,400 and $9,450.
