THELOGICALINDIAN - Bitcoin amount climbed added college and bankrupt the key 13000 attrition adjoin the US Dollar BTC is currently accumulation assets and it is acceptable to abide higher
Bitcoin Price Analysis
Yesterday, we saw a solid advancement move in bitcoin amount aloft the $12,000 and $12,200 resistances adjoin the US Dollar. Later, the BTC/USD brace adapted lower from the $12,800 attrition area. It traded beneath the $12,500 akin and activated the $12,200 abutment area. The beasts remained in activity and the amount remained accurate aloft $12,000. Moreover, there was no abutting beneath $12,000 and the 100 alternate simple affective average.
As a result, there was a beginning access aloft the $12,500 attrition level. The amount acquired bullish drive and bankrupt the $13,000 akin (target discussed in yesterday’s analysis). Besides, it traded abutting to the additional bullish ambition of $13,200. A new account aerial was formed at $13,152 and bitcoin amount is currently acclimation gains. It is trading abreast the $12,900 akin additional the 23.6% Fib retracement akin of the contempo beachcomber from the $12,147 low to $13,152 high.
On the downside, there are abounding supports abreast the $12,800 and $12,600 levels. Moreover, there is a above bullish trend band basic with abutment abreast $12,700 on the alternate blueprint of the BTC/USD pair. The 50% Fib retracement akin of the contempo beachcomber from the $12,147 low to $13,152 aerial is additionally abreast the $12,650 akin to act as a strong support.
If there is a downside breach beneath the $12,600 and $12,500 abutment levels, the amount could revisit the $12,200 abutment area. On the upside, an antecedent attrition is abreast the $13,200 level, aloft which there are affairs of a advance appear the $13,500 level.
Looking at the chart, bitcoin amount seems to be advancing for added upsides aloft the $13,200 level. In the abbreviate term, there could be a downside correction, but the beasts are acceptable to avert the $12,800 or $12,600 abutment breadth in the advancing sessions.
Technical indicators:
Hourly MACD – The MACD is currently accepting clip in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently able-bodied aloft the 60 level, with absolute signs.
Major Support Levels – $12,800 followed by $12,600.
Major Resistance Levels – $13,150, $13,200 and $13,500.
