THELOGICALINDIAN - Bitcoin amount is assuming absolute signs aloft the 10100 akin adjoin the US Dollar BTC needs to beat the 10400 attrition breadth to abide college in the abreast term
Bitcoin Price Analysis
Yesterday, there was a sharp decline in bitcoin beneath the $10,000 abutment adjoin the US Dollar. Moreover, BTC amount traded beneath the $9,800 abutment level. A new account low was formed at $9,637 and afresh the amount started a able recovery. There was a breach aloft the $10,000 attrition breadth and a abutting aloft the 100 alternate simple affective average.
It opened the doors for added assets aloft the $10,100 and $10,200 levels. Moreover, there was a breach aloft a above bearish trend band with attrition abreast $10,150 on the alternate blueprint of the BTC/USD pair. The brace traded appear the $10,400 attrition area, area sellers emerged. A aerial was formed abreast $10,376 and the amount is currently acclimation lower. It bankrupt the 23.6% Fib retracement akin of the contempo assemblage from the $9,637 low to $10,376 high.
On the downside, there are abounding supports abreast the $10,150 akin and the 100 alternate simple affective average. The burst trend band ability additionally accommodate abutment abreast $10,150. If there are added downsides, the amount could analysis the $10,000 abutment area. It now coincides with the 50% Fib retracement akin of the contempo assemblage from the $9,637 low to $10,376 high.
On the upside, an actual attrition is abreast the $10,300 level. However, the main resistance is abreast the $10,400 level. If there is an upside breach aloft $10,400, the amount could abide to acceleration appear the $10,500 and $10,800 levels.
Looking at the chart, bitcoin amount is aback in a absolute breadth aloft the $10,000 abutment area. In the abbreviate term, there could be ambit moves aloft the $10,000 akin afore the abutting move. If the beasts abide in action, they could anon accomplish addition attack to advance the amount aloft the capital $10,400 attrition area.
Technical indicators:
Hourly MACD – The MACD is boring affective into the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently acclimation lower appear the 50 level.
Major Support Levels – $10,150 followed by $10,000.
Major Resistance Levels – $10,300, $10,375 and $10,400.
