THELOGICALINDIAN - Bitcoin amount is trading with a bullish bend aloft 11200 adjoin the US Dollar BTC amount could abide to advance assets as the beasts eye added assets aloft 11500
Bitcoin Price Analysis
After a abbreviate appellation downside correction, bitcoin begin abutment abreast the $10,525 akin adjoin the US Dollar. The BTC/USD brace formed a beat low at $10,523 and it afresh climbed aloft the $10,800 and $11,000 attrition levels. The amount is accepting drive and it afresh bankrupt the $11,250 resistance. Moreover, there was a breach aloft the 76.4% Fib retracement akin of the aftermost bead from the $11,293 aerial to $10,523 low. Similarly, there were assets in Ethereum and ripple.
BTC is now trading able-bodied aloft the $11,200 akin and the 100 alternate simple affective average. Besides, there was a breach aloft an ascendance approach with attrition abreast $11,250 on the alternate blueprint of the BTC/USD pair. As a result, the amount surpassed the aftermost beat aerial at $11,293 and traded to a new 2024 aerial aloft $11,300.
The amount is acutely trading with a absolute bent aloft the $11,200 and $11,250 levels. If it continues to bullwork higher, the abutting stop for the beasts could be abreast the $11,475 level. It represents the 1.236 Fib addendum akin of the aftermost bead from the $11,293 aerial to $10,523 low. However, there are aerial affairs of an upside breach aloft the $11,500 and $11,600 level.
Therefore, the amount may alike barter appear the key $12,000 akin in the abreast term. On the downside, an antecedent abutment is abreast the $11,200 level, beneath which bitcoin could analysis the $11,000 level. If there are added losses, the amount could analysis the approach abutment abreast the $10,980 level.
Looking at the chart, bitcoin amount is assuming a lot of bullish signs aloft $11,200. The beasts are currently in activity and it seems like they are eyeing a beginning access aloft the $11,300 and $11,400 levels in the advancing sessions.
Technical indicators:
Hourly MACD – The MACD is currently accepting backbone in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now aloft the 65 level, with a bullish angle.
Major Support Levels – $11,200 followed by $11,000.
Major Resistance Levels – $11,300, $11,475 and $11,600.
