THELOGICALINDIAN - Recently there was a nice advancement move in bitcoin amount aloft 10000 adjoin the US Dollar BTC amount retested the capital 10200 attrition akin and it is currently acclimation gains
Bitcoin Price Analysis
Yesterday, we discussed the affairs of added upsides in bitcoin amount aloft $10,000 adjoin the US Dollar. The BTC/USD brace did accretion drive aloft the $9,800 attrition and the 100 alternate simple affective average. Moreover, the brace bankrupt the $10,000 attrition akin and revisited the $10,200 resistance. A beat aerial was formed abreast $10,182 and the amount is currently acclimation lower.
It traded beneath $10,100 additional the 23% Fib retracement akin of the contempo acceleration from the $9,645 low to $10,182 high. Moreover, there was a breach beneath a abbreviate appellation ascendance approach with abutment abreast $10,020 on the alternate blueprint of the BTC/USD pair. The brace is now trading abreast the $10,000 level, with an actual abutment abreast the $9,940 level. Additionally, the abutting key abutment is abreast $9,910 additional the 50% Fib retracement akin of the contempo acceleration from the $9,645 low to $10,182 high.
The capital abutment is abreast the $9,850 level. If there is a downside break beneath the $9,850 support, the amount could revisit the $9,650 level. The 100 alternate SMA is additionally cat-and-mouse abreast the $9,640 level. Any added losses ability advance the amount appear the $9,300 zone. It represents the 1.236 Fib addendum akin of the contempo acceleration from the $9,645 low to $10,182 high.
On the upside, an actual attrition is abreast the $10,050 level, aloft which the amount is acceptable to retest the $10,200 attrition level. Therefore, the beasts charge to accretion backbone aloft the $10,180 and $10,200 attrition levels in the abreast appellation for added gains.
Looking at the chart, bitcoin amount is acutely trading with a absolute bent aloft the $9,900 and $9,850 levels. Conversely, if there is a beginning decline, the beasts are acceptable to assure the $9,640 abutment level. On the upside, a bright breach aloft $10,200 will best acceptable set the clip for a move appear $10,500.
Technical indicators:
Hourly MACD – The MACD is boring accepting clip in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently crumbling lower appear the 50 level.
Major Support Levels – $9,910 followed by $9,850.
Major Resistance Levels – $10,050, $10,200 and $10,500.
