THELOGICALINDIAN - Bitcoin amount surged aloft the capital 12024 attrition adjoin the US Dollar BTC amount is currently accepting drive and it could alike barter appear the 13000 level
Bitcoin Price Analysis
This week, we discussed the $12,000 akin as a accessible target for bitcoin adjoin the US Dollar. The BTC/USD brace did abide in a absolute area and afresh bankrupt a few important resistances abreast $11,500 and $11,800. As a result, there was an upside breach aloft $12,000 akin and the amount traded to our account target. The contempo beachcomber was such that the amount alike surged aloft $12,200 and traded to a new 2019 aerial abreast $12,500.
It is now trading able-bodied aloft the 1.236 Fib addendum akin of the aftermost abatement from the $11,295 beat aerial to $10,525 low. During the rise, the amount broke a few important bullish assiduity patterns abreast $11,400 and $12,000. It seems like the amount is ambulatory appear the abutting accessible ambition abreast the $12,540 level. It coincides with the 1.618 Fib addendum akin of the aftermost abatement from the $11,295 beat aerial to $10,525 low.
On the downside, there are abounding supports abreast the $12,200 and $12,000 levels. Moreover, there are two key bullish trend curve basic with abutment abreast $12,000 and $11,450 on the alternate blueprint of the BTC/USD pair. Additionally, the capital abutment on the downside is abreast the $11,225, area the beasts are acceptable to avert any added losses.
On the upside, if the amount break the $12,540 resistance, there could be a aciculate advancement move. Therefore, the abutting ambition for the beasts could be abreast the $13,000 level. If there are added gains, the amount may alike advance appear the $13,500 akin in the abreast term.
Looking at the chart, bitcoin amount is accepting a lot of backbone aloft the $12,000 level. The amount activity is cool able and there seems no acumen for a aloft pullback in the abreast term. Therefore, there could be added assets aloft the $12,500 and $12,800 levels.
Technical indicators:
Hourly MACD – The MACD is currently accepting backbone in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now aloft the 70 akin and is in the overbought zone.
Major Support Levels – $12,200 followed by $12,000.
Major Resistance Levels – $12,500, $12,800 and $13,000.
