THELOGICALINDIAN - Bitcoin amount surged added than 10 aloft 10500 adjoin the US Dollar BTC is currently accumulation assets and dips are acceptable to acquisition a able abutment aloft 10000 and 10200
Bitcoin Price Analysis
In the accomplished few days, we saw a major drop in bitcoin amount beneath the $10,000 abutment adjoin the US Dollar. The BTC/USD brace traded abutting the $9,000 abutment akin and formed a new account low abreast $9,095. Later, the amount formed a appropriate abutment abject aloft $9,400 and afresh started an advancement move. It surged added than $1,000 and bankrupt the key $10,000 resistance.
There was a breach aloft the 61.8% Fib retracement akin of the aftermost key bead from the $11,060 beat aerial to $9,100 beat low. Moreover, there was a breach aloft a aloft bearish trend band with attrition abreast $9,800 on the alternate blueprint of the BTC/USD pair. The brace alike acclimatized aloft the $10,400 akin and the 100 alternate simple affective average. The advancement move was such that the amount activated the $10,800 attrition and a beat aerial was formed abreast $10,807.
The amount is currently accumulation beneath $10,800 and trading central a application triangle. If there is a downside break, the amount could analysis $10,440 or the 23.6% Fib retracement akin of the contempo beachcomber from the $9,271 low to $10,807 high. However, the capital abutment on the downside is abreast the $10,200 akin and the 100 alternate simple affective average.
Moreover, the 50% Fib retracement akin of the contempo beachcomber from the $9,271 low to $10,807 aerial is additionally abreast the $10,040 level. Therefore, dips appear the $10,400 and $10,200 levels are acceptable to acquisition a lot of buyers. On the upside, a breach aloft the $10,800 attrition ability alpha addition rise.
Looking at the chart, bitcoin amount is acutely trading in a absolute area aloft the $10,200 and $10,400 abutment levels. If there are added assets aloft $10,800, the amount ability move appear the $11,500 akin in the abreast term.
Technical indicators:
Hourly MACD – The MACD is boring affective aback into the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently acclimation from 70 and it could analysis 55.
Major Support Levels – $10,400 followed by $10,200.
Major Resistance Levels – $10,800, $11,000 and $11,500.
