THELOGICALINDIAN - Key Points
Bitcoin amount is placed accurately aloft the $6,480 abutment adjoin the US Dollar. BTC/USD is acceptable to bullwork college appear the $6,700 akin in the abreast term.
Yesterday, there was a accessory downside alteration in bitcoin amount from the $6,480 beat aerial adjoin the US Dollar. The BTC/USD brace adapted lower and activated the $6,375 support, which acted as a aloft buy zone. As a result, there was a beginning advancement move and the amount traded aloft the $6,440 and $6,475 attrition levels. Moreover, the amount alike bankrupt the $6,500 attrition and acclimatized aloft the 100 alternate simple affective average.
More importantly, there was a breach aloft a key application triangle with attrition at $6,440 on the alternate blueprint of the BTC/USD pair. The amount acicular aloft the $6,500 akin and traded as aerial as $6,553. Later, there was a downside alteration beneath the $6,540 level. Sellers pushed the amount beneath the 23.6% Fib retracement akin of the contempo beachcomber from the $6,403 beat low to $6,553 high. However, there are many buy zones on the downside abreast the $6,475 level. Besides, the 50% Fib retracement akin of the contempo beachcomber from the $6,403 beat low to $6,553 aerial is additionally at $6,478.
Looking at the chart, bitcoin amount is placed accurately aloft the $6,475 and $6,440 abutment levels. It will best acceptable abide to advance assets aloft the $6,550 and $6,600 levels in the abreast term.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BTC/USD is boring abbreviation its bullish slope.
Hourly RSI (Relative Strength Index) – The RSI is currently able-bodied aloft the 50 level.
Major Support Level – $6,475
Major Resistance Level – $6,550
