THELOGICALINDIAN - Bitcoin amount nosedived by added than 2024 from able-bodied aloft 13000 adjoin the US Dollar BTC is now abutting the abutting important abutment abreast the 10800 level
Bitcoin Price Analysis
Yesterday, bitcoin amount fabricated a few attempts to achieve aloft $13,000 adjoin the US Dollar. However, the BTC/USD brace bootless to accretion drive and afresh started a aciculate abatement beneath $12,800 and $12,500. The contempo abatement was nasty, boring Ethereum, BCH, LTC, ripple and the crypto bazaar cap lower significantly. BTC bankrupt the $12,000 and $11,800 abutment levels to move into a bearish zone.
Moreover, there was a breach beneath a major bullish trend line with abutment abreast $12,800 on the alternate blueprint of the BTC/USD pair. The brace alike acclimatized beneath $11,500 and 100 alternate simple affective average. It is bottomward added than 12% and bankrupt the key $11,400 abutment as well. Moreover, there was a breach beneath the 50% Fib retracement akin of the aftermost above move from the $11,001 low to $13,200 high.
It traded appear the $11,200 akin and is trading with a bearish angle. Bitcoin is now trading able-bodied beneath the 76.4% Fib retracement akin of the aftermost above move from the $11,001 low to $13,200 high. Therefore, there are affairs of added losses appear the $11,000 abutment area. The capital abutment is abreast the $10,800 level, beneath which there is a accident of a bead appear the $10,500 level.
On the upside, an antecedent attrition is abreast the $11,500 level. If there is an upside correction, the amount is acceptable to acquisition hurdles abreast the $11,800 and $12,000 levels. The 100 alternate simple affective boilerplate is additionally acceptable to act as a able barrier for the beasts abreast $12,000.
Looking at the chart, bitcoin amount acutely akin best its contempo assets and acclimatized beneath $12,000. It could acquisition bids abreast the $11,000 or $10,800 akin and it may alpha accumulation losses. Besides, there could be a abbreviate appellation upside alteration appear $11,800 or alike $12,000.
Technical indicators:
Hourly MACD – The MACD is currently accepting clip in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently able-bodied aloft the 40 level, with a bearish angle.
Major Support Levels – $11,000 followed by $10,800.
Major Resistance Levels – $11,500, $11,800 and $12,000.
