THELOGICALINDIAN - Bitcoin amount acquired absorption and bankrupt the key 3600 attrition adjoin the US Dollar BTC is now placed accurately in a absolute area and dips abide accurate abreast 3620 and 3600
Bitcoin Price Analysis
There was a abrupt alliance this accomplished anniversary aloft the $3,550 abutment in bitcoin amount adjoin the US Dollar. The BTC/USD brace formed a able abutment abreast the $3,550 akin and after traded higher. The amount gained absorption and bankrupt abounding resistances, including $3,580 and $3,600. It opened the doors for added assets and the amount alike acclimatized aloft $3,600 and the 100 alternate simple affective average. During the advancement move, there was a breach aloft a above bearish trend band with attrition at $3,610 on the alternate blueprint of the BTC/USD pair.
The brace alike austere the $3,700 attrition and traded to a new account aerial at $3,732. Later, there was a downside alteration beneath the $3,700 level. Sellers pushed the amount beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $3,553 low to $3,732 high. However, there are abounding supports abreast the $3,640 and $3,620 levels. An antecedent abutment is $3,645 and the 50% Fib retracement akin of the aftermost beachcomber from the $3,553 low to $3,732 high.
The capital abutment is abreast the $3,620 akin (the previous blemish resistance). It additionally coincides with the 61.8% Fib retracement akin of the aftermost beachcomber from the $3,553 low to $3,732 high. Therefore, if there is a downside alteration beneath $3,660, the amount could acquisition abutment abreast the $3,640 and $3,620 levels. On the upside, an antecedent attrition is abreast the $3,700 level, aloft which the amount may conceivably analysis $3,750.
Looking at the chart, bitcoin amount acutely bankrupt a few important resistances abreast $3,600 to move into a bullish zone. The accepted amount activity is positive, with affairs of added assets aloft $3,700 and $3,750. The abutting key attrition aloft $3,750 is abreast the $3,880 level.
Technical indicators
Hourly MACD – The MACD is placed heavily in the bullish zone, signaling a able advancement move in the abbreviate term.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently beat from the overbought levels.
Major Support Levels – $3,640 followed by $3,620 and $3,600.
Major Resistance Levels – $3,700, $3,720 and 3,740.
