THELOGICALINDIAN - Bitcoin amount is accepting bullish drive aloft 4000 adjoin the US Dollar BTC charcoal accurate on dips and it may anon ascend aloft the 4150 and 4200 resistances
Bitcoin Price Analysis
Yesterday, we discussed the key abutment at $3,940 for bitcoin amount adjoin the US Dollar. The BTC/USD brace backward aloft the mentioned abutment and it boring confused aloft $3,965 and $3,980. Buyers pushed the amount aloft the $4,000 level. There was a breach aloft the 23.6% Fib retracement akin of the aftermost bead from the $4,114 beat aerial to $3,965 beat low. It opened the doors for added assets aloft $4,050 and the amount is now able-bodied aloft the 100 alternate simple affective average.
An antecedent attrition is abreast the $4,040 level. It represents the 50% Fib retracement akin of the aftermost bead from the $4,114 beat aerial to $3,965 beat low. Added importantly, there is a abbreviate appellation triangle basic with attrition at $4,045 on the alternate blueprint of the BTC/USD pair. Therefore, a breach aloft the triangle and $4,050 may accessible the doors for added assets in the abreast term. The abutting attrition is at $4,085, aloft which the price may climb appear the $4,150 and $4,200 levels. An average attrition is the 1.236 Fib addendum akin of the aftermost bead abreast $4,140.
Looking at the chart, bitcoin amount is trading with a bullish accent aloft the $3,965 support. If there is a downside acknowledgment beneath $3,965, the amount may abatement appear the $3,940 and $3,920 abutment levels. The capital abutment beneath $3,920 is at $3,860.
Technical indicators
Hourly MACD – The MACD for BTC/USD is boring accepting clip in the bullish zone, with a absolute bias.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now aloft the 55 level, with a bullish angle.
Major Support Level – $3,965
Major Resistance Level – $4,085
