THELOGICALINDIAN - Key Points
Bitcoin amount mostly circumscribed aloft $6,400 adjoin the US Dollar. BTC/USD seems to be disturbing to bright the $6,450 attrition area.
There was yet addition bounce acclaimed about the $6,450 resistance breadth in bitcoin amount adjoin the US Dollar. The BTC/USD brace traded as aerial $6,460 and after started a downside correction. The amount biconcave beneath the $6,420 and $6,400 supports forth with the 100 alternate simple affective average. It traded as low as $6,390 and after recovered a few points. Buyers pushed the amount aloft the $6,410 akin and the 100 alternate SMA.
There was additionally a breach aloft the 23.6% Fib retracement akin of the aftermost abatement from the $6,460 aerial to $6,390 low. However, the upside move was capped by the $6,425 level. Besides, the 50% Fib retracement akin of the aftermost abatement from the $6,460 aerial to $6,390 low additionally acted as a hurdle. At the moment, the amount is accumulation aloft $6,400 and the 100 alternate SMA. On the downside, there is a key abutting bullish trend band in abode with abutment at $6,400 on the alternate blueprint of the BTC/USD pair. If there is a downside breach beneath the trend band and $6.390, the amount could analysis the $6,350 support.
Looking at the chart, bitcoin amount charge breach the $6,450 and $6,460 attrition levels to ascend added higher. The abutting above attrition is abreast the $6,520 level.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BTC/USD is currently in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI is now beneath the 50 level.
Major Support Level – $6,390
Major Resistance Level – $6,450
