THELOGICALINDIAN - Key Points
Bitcoin amount is architecture bullish drive aloft $7,600 adjoin the US Dollar. BTC/USD charcoal buy on dips abreast the $7,600 and $7,500 abutment levels.
Bitcoin Price Analysis
The accomplished three sessions were positive as bitcoin amount managed to accretion absorption added aloft $7,500 adjoin the US Dollar. The BTC/USD brace traded boring college and bankrupt a few important hurdles abreast $7,600 and $7,650. There was a able abutting aloft the $7,600 akin and the 100 alternate simple affective average. A aerial was formed at $7,753 and the amount is currently acclimation gains.
During the upside, yesterday’s accent aloft bearish trend band with attrition at $7,645 was breached on the alternate blueprint of the BTC/USD pair. If the amount corrects lower from the accepted level, it may acquisition abutment aloft $7,600. On the downside, an antecedent abutment is abreast $7,675, which was a resistance earlier. Below this, the 23.6% Fib retracement akin of the aftermost beachcomber from the $7,355 low to $7,753 high. However, the best important abutment on the downside is abreast $7,600 and the 100 alternate simple affective average.
Looking at the chart, the amount is acutely trading with a bullish bent aloft $7,600. On the upside, a breach aloft the contempo aerial at $7,753 may conceivably accessible the doors for a advance aloft $7,800. Aloft this, the abutting stop for buyers ability be abutting to the $8,000 level.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BTC/USD is now aback in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI is affective accurately and is currently able-bodied aloft 55 level.
Major Support Level – $7,600
Major Resistance Level – $7,750
