THELOGICALINDIAN - Bitcoin amount is adverse a lot of barriers abreast 9900 and 10000 adjoin the US Dollar BTC could trim contempo assets if it fails to ascend aloft 9900 or 10000 in the abreast term
Bitcoin Price Analysis
Recently, BTC started a appropriate upside alteration from the $9,316 beat low adjoin the US Dollar. It seems like a appropriate abutment abject is basic abreast the $9,350 and $9,400 levels. The amount climbed aloft the $9,500 and $9,520 attrition levels. Moreover, there was a abutting aloft the $9,500 akin and the 100 alternate simple affective average. It opened the doors for added assets aloft $9,550.
Additionally, bitcoin acquired clip aloft the 23.6% Fib retracement akin of the aftermost key abatement from the $10,293 aerial to $9,316 low. However, the amount is now disturbing to breach the $9,800 attrition breadth (the antecedent support). Moreover, it seems like the 50% Fib retracement akin of the aftermost key abatement from the $10,293 aerial to $9,316 low is acting as a able resistance.
On the upside, there is a aloft bearish trend band basic with attrition abreast $9,900 on the alternate blueprint of the BTC/USD pair. Aloft the trend line, the 61.8% Fib retracement akin of the aftermost key abatement from the $10,293 aerial to $9,316 low is at $9,920. However, the main attrition is abreast the $10,000 level, aloft which the amount is acceptable to move aback into a absolute zone.
On the downside, an antecedent abutment is abreast the $9,660 akin (the contempo attrition area). The abutting key abutment is abreast the $9,600 akin and the 100 alternate SMA. If there is a downside breach beneath the 100 alternate SMA, the amount could revisit the $9,350 abutment breadth in the abreast term.
Looking at the chart, bitcoin amount is adverse a lot of hurdles abreast the $9,800, $9,900 and $10,000 levels. It seems like the beasts could attack to advance the amount aloft $10,000. If they fail, the amount will best acceptable alpha a beginning abatement appear $9,500 or $9,350.
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 acclimation lower appear the 60 level.
Major Support Levels – $9,660 followed by $9,500.
Major Resistance Levels – $9,800, $9,900 and $10,000.
