THELOGICALINDIAN - Bitcoin amount acquired added than 10 in the accomplished 24 hours and bankrupt 10K adjoin the US Dollar BTC is acceptable to abide college appear the 11000 and 12024 levels
Bitcoin Price Analysis
Yesterday, we saw a solid advancement move aloft $9,500 in bitcoin amount adjoin the US Dollar. The BTC/USD brace remained in a absolute area and afresh rallied aloft the capital $10,000 resistance. There was alike a abutting aloft the $10,000 akin and the 100 alternate simple affective average. A new 2019 aerial was formed aloft $10,800 and the amount traded abutting to the $11,000 level.
The contempo acceleration was acceptable back there was a able chase through aloft $10,000. The beasts are currently in activity admitting the contempo downside correction. It bankrupt the $10,700 abutment additional the 23.6% Fib retracement akin of the contempo assemblage from the $9,853 low to $10,903 high. However, the abatement was adequate by the $10,400 abutment area.
It seems like the 50% Fib retracement akin of the contempo assemblage from the $9,853 low to $10,903 aerial acted as a able support. Moreover, there is a key bullish trend band basic with abutment abreast $10,200 on the alternate blueprint of the BTC/USD pair. The brace is currently affective higher and is trading aloft the $10,600 level. On the upside, an actual hurdle is abreast the $10,800 level, aloft which the amount could barter appear the $11,000 level.
Moreover, if the beasts abide in action, the amount may alike ascend aloft the $11,000 and $11,200 levels. On the downside, there are abounding supports abreast the $10,600 and $10,400 levels. The capital abutment is now abreast $10,000.
Looking at the chart, bitcoin amount is acutely in a able uptrend aloft $10,000. If there are added gains, the amount may alike analysis the abutting important attrition abreast $12,000. On the downside, the antecedent resistances abreast $9,800 and $9,500 are now axis levels. Only a circadian abutting beneath $9,500 ability alpha a above decline.
Technical indicators:
Hourly MACD – The MACD is currently now heavily in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently in the acute overbought zone.
Major Support Levels – $10,600 followed by $10,400.
Major Resistance Levels – $10,800, $11,000 and $11,200.
