THELOGICALINDIAN - There were solid assets in bitcoin amount aloft 11000 adjoin the US Dollar BTC amount is up added than 8 bankrupt the 11200 hurdle and it activated the 11500 attrition area
Bitcoin Price Analysis
In the accomplished two days, there was a abiding acceleration aloft $10,500 in bitcoin amount aloft $10,000 adjoin the US Dollar. The BTC/USD brace acclimatized aloft the $11,000 attrition and the 100 alternate simple affective boilerplate to move into a absolute zone. Moreover, the amount bankrupt the $11,200 attrition and activated the $11,500 attrition (as discussed in the account forecast). The contempo acceleration was able as the amount traded to a new account aerial at $11,646.
At the outset, the amount is accumulation assets abreast the $11,500 level. An actual abutment is abreast the $11,500 and $11,450 levels. Moreover, the 23% Fib retracement akin of the contempo assemblage from the $10,841 low to $11,646 aerial is additionally abreast the $11,450 akin to act as a able support. If there is an extended downside correction, the abutting abutment for the beasts could be abreast the $11,200 level.
Additionally, the 50% Fib retracement akin of the contempo assemblage from the $10,841 low to $11,646 aerial could additionally accommodate abutment abreast the $11,250 level. The capital abutment area is abreast the $11,000 level, which was a attrition beforehand and now it could accommodate support. More importantly, there is a key bullish trend band basic with abutment abreast $10,900 on the alternate blueprint of the BTC/USD pair.
Therefore, if there is a downside correction, the amount ability acquisition able bids abreast $11,250 or $11,000. On the upside, an actual attrition is abreast the $11,650 beat high. A acknowledged breach aloft $11,650 ability accessible the doors for a move appear the $12,000 level.
Looking at the chart, bitcoin amount is assuming a lot of absolute signs aloft the $11,200 and $11,500 levels. The amount activity suggests that there could be a abbreviate appellation downside alteration afore added assets aloft the $11,650 level.
Technical indicators:
Hourly MACD – The MACD is placed heavily in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently acclimation lower from the overbought zone.
Major Support Levels – $11,450 followed by $11,200.
Major Resistance Levels – $11,650, $11,800 and $12,000.
