THELOGICALINDIAN - There were appropriate assets in bitcoin amount aloft 10200 adjoin the US Dollar BTC amount is acceptable advancing for added assets aloft the 10500 and 10600 levels
Bitcoin Price Analysis
In the accomplished few sessions, there were positive moves in bitcoin amount aloft $10,000 adjoin the US Dollar. The BTC/USD brace bankrupt the capital $10,200 attrition akin to move added into the bullish zone. Moreover, there was a abutting aloft the $10,200 attrition and the 100 alternate simple affective average. It opened the doors for added assets aloft the $10,400 akin and the amount activated the $10,500 attrition level.
A beat aerial was formed abreast $10,491 and the amount is currently accumulation gains. An actual abutment is abreast the $10,350 level, additional the 23% Fib retracement akin of the contempo advancement move from the $9,881 low to $10,491 high. Moreover, there is a abbreviate appellation crumbling approach or bullish banderole basic with attrition abreast $10,400 on the alternate blueprint of the BTC/USD pair.
If there is an upside break, the amount is acceptable to advance aloft $10,450 and $10,500. The abutting key attrition is abreast the $10,600 level. On the downside, there is a strong support basic abreast the $10,200 level. Moreover, there is a above bullish trend band basic with abutment abreast $10,200 on the aforementioned chart. Finally, the 50% Fib retracement akin of the contempo advancement move from the $9,881 low to $10,491 aerial is abreast the $10,180 level.
Therefore, a downside alteration appear the $10,200 akin is acceptable to acquisition able affairs absorption in the abreast term. If there is a downside breach beneath the $10,200 support, the amount could revisit the $10,000 abutment area.
Looking at the chart, bitcoin amount is trading with a bullish bent aloft the $10,000 and $10,200 abutment levels. Therefore, there are aerial affairs of added assets aloft the $10,500 and $10,600 levels in the advancing sessions. Only a abutting beneath $10,000 ability advance the amount aback in a bearish zone.
Technical indicators:
Hourly MACD – The MACD is boring accident drive in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently acclimation lower appear the 55 level.
Major Support Levels – $10,200 followed by $10,000.
Major Resistance Levels – $10,400, $10,500 and $10,600.
