THELOGICALINDIAN - Key Points
Bitcoin amount bootless to ascend college aloft $4,400 and beneath adjoin the US Dollar. BTC/USD charcoal advertise on rallies abreast the $4,120 and $4,200 attrition levels.
Recently, bitcoin amount formed a decent support abreast the $3,880 akin and climbed college adjoin the US Dollar. The BTC/USD brace traded college and bankrupt the $4,000 and $4,120 attrition levels. However, the amount bootless to achieve aloft the $4,300 attrition and beneath again. A aerial was formed at $4,286 and the amount traded beneath the 100 alternate simple affective average.
Sellers pushed the amount beneath the $4,000 abutment and a new intraday low was formed at $3,907. The amount is currently accumulation aloft $3,900 and $3,880. An antecedent attrition is abreast the 23.6% Fib retracement akin of the aftermost abatement from the $4,286 aerial to $3,907 low. However, the capital attrition is abreast the $4,120 akin and the 100 alternate simple affective average. There is additionally a key bearish trend band in abode with attrition at $4,180 on the alternate blueprint of the BTC/USD pair. Beneath the trend line, the 61.8% Fib retracement akin of the aftermost abatement from the $4,286 aerial to $3,907 low is at $4,142.
Looking at the chart, bitcoin amount is acutely adverse a lot of hurdles abreast the $4,120, $4,140 and $4,180 levels. Therefore, sellers abide in ascendancy as continued as the amount is beneath the $4,200 axis level.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BTC/USD is placed heavily in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI is currently able-bodied beneath the 40 level.
Major Support Level – $3,880
Major Resistance Level – $4,120
