THELOGICALINDIAN - Bitcoin amount is trading in an uptrend aloft 10600 adjoin the US Dollar BTC billow already there is a acknowledged breach aloft the 10800 and 11000 resistances
Bitcoin Price Analysis
Yesterday, there were further upsides in BTC aloft the $10,750 attrition breadth adjoin the US Dollar. The amount alike bankrupt the $10,800 akin and acclimatized aloft the 100 alternate simple affective average. A new account aerial was formed abreast $10,893 afore the amount started a downside correction. There was a breach beneath the $10,750 and $10,600 levels. Moreover, the amount acicular beneath $10,500, but downsides were contained.
A beat low was formed abreast $10,463 and the amount started a beginning increase. It bankrupt the $10,600 attrition to move aback into a absolute zone. Additionally, there was a breach aloft the 50% Fib retracement akin of the aftermost accelerate from the $10,893 aerial to $10,463 low. The beasts alike pushed the amount aloft a abutting bearish trend band with attrition at $10,560 on the alternate blueprint of the BTC/USD pair.
The amount is now testing the $10,800 attrition area. Moreover, it seems like the 76.4% Fib retracement akin of the aftermost accelerate from the $10,893 aerial to $10,463 low is acting as a resistance. If there is an upside breach aloft the $10,800 and $10,880 levels, the price could abide to rise. In the mentioned case, the amount will best acceptable breach the $11,000 attrition level.
Conversely, if the amount fails to breach the $10,800 and $10,880 attrition levels, it could actual lower. An actual abutment is abreast the $10,650 level. Additionally, there is a new bullish trend band basic with abutment abreast $10,600 on the aforementioned chart. Below the trend line, the amount could revisit the $10,500 abutment breadth in the abreast term.
Looking at the chart, bitcoin amount is acutely accepting drive aloft $10,700 and it will best acceptable breach the $10,800 and $10,880 attrition levels. Finally, if there is a breach aloft $11,000, the amount could analysis $11,250.
Technical indicators:
Hourly MACD – The MACD is boring accepting clip in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is affective college appear the 75 level.
Major Support Levels – $10,600 followed by $10,500.
Major Resistance Levels – $10,800, $10,880 and $11,000.
