THELOGICALINDIAN - Bitcoin amount is trading beneath key resistances and hurdles adjoin the US Dollar BTC is acceptable to accomplish the abutting move either aloft 10400 or appear 9900
Bitcoin Price Analysis
In the accomplished three days, bitcoin amount beneath steadily beneath $10,400 adjoin the US Dollar. On the added hand, Ethereum rallied aloft $200 and ripple amount surged aloft the $0.3000 resistance. BTC/USD is now trading able-bodied beneath the $10,300 akin and the 100 alternate simple affective average. The aftermost beat aerial was formed abreast $10,348 and the contempo low was abreast $10,138.
At the moment, the amount is accumulation assets aloft $10,200. It bankrupt the $10,240 resistance, additional the 50% Fib retracement akin of the contempo abatement from the $10,348 aerial to $10,138 low. However, the advancement move was capped by the $10,270 level. It seems like the 61.8% Fib retracement akin of the contempo abatement from the $10,348 aerial to $10,138 low is capping the advancement move.
More importantly, there is a key blemish arrangement basic with abutment abreast $10,200 on the alternate blueprint of the BTC/USD pair. There are abounding hurdles on the upside abreast $10,270, $10,300, and the 100 alternate SMA. If there is an upside breach aloft the $10,300 akin and the 100 alternate SMA, the amount could abide higher. The abutting key resistances are abreast the $10,400 and $10,440 levels.
Conversely, if the amount continues to attempt beneath $10,300, there could be a downside break. An actual abutment is abreast the $10,200 level. A acceptable breach and chase through beneath $10,200 will best acceptable advance the amount appear the $10,000 support. The capital abutment is abreast the $9,900, beneath which there could be a awful bead appear $9,500 or $9,200.
Looking at the chart, bitcoin amount is acutely advancing for the abutting move and it could either assemblage aloft $10,400 or it ability extend its abatement appear the $9,900 support. The amount activity indicates aerial affairs of a bearish acknowledgment unless the beasts advance the amount aloft $10,300.
Technical indicators:
Hourly MACD – The MACD is about to move into the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is aloof abreast the 50 level, with a absolute bias.
Major Support Levels – $10,200 followed by $10,000.
Major Resistance Levels – $10,300, $10,340 and $10,400.
