THELOGICALINDIAN - Key Points
Bitcoin amount acquired clip aloft the $3,650 attrition adjoin the US Dollar. BTC traded abutting to $3,800 and it looks set for added assets appear $4,000 or $4,200.
Yesterday, we saw a nice bullish move aloft $3,400 in bitcoin amount adjoin the US Dollar. The BTC/USD brace traded appear the $3,600 akin and after adapted lower. However, dips remained accurate and the amount bounced aback from the $3,440 support. Buyers regained backbone and pushed the amount aloft the $3,580 and $3,650 attrition levels. It traded to a new account aerial at $3,776 and currently accumulation gains.
An antecedent abutment is abreast $3,700 and the 23.6% Fib retracement akin of the aftermost beachcomber from the $3,440 low to $3,776 high. Below $3,700, there are abounding supports abreast the $3,600 level. There is additionally a key bullish trend band formed with abutment at $3,640 on the alternate blueprint of the BTC/USD pair. Besides, the 50% Fib retracement akin of the aftermost beachcomber from the $3,440 low to $3,776 aerial is about $3,608. Therefore, if there is a downside correction, the price ability acquisition support abreast $3,640 or $3,600. The abutting capital abutment is at $3,300 and the 100 alternate simple affective average.
Looking at the chart, bitcoin amount is acutely afterward a solid uptrend aloft $3,580. To the topside, a breach aloft the $3,770 and $3,800 attrition could bright the aisle appear $4,000 or $4,200.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BTC/USD is placed accurately in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI is currently able-bodied aloft the 65 level.
Major Support Level – $3,600
Major Resistance Level – $3,800
