THELOGICALINDIAN - Key Points
Bitcoin amount is aback to aboveboard one beneath $6,450 adjoin the US Dollar. BTC/USD is now at a accident of added losses appear the $6,285 support.
After three bootless attempts to breach the $6,485-6,490 resistance, bitcoin amount beneath adjoin the US Dollar. The BTC/USD brace faced a lot of affairs burden as it beneath beneath the $6,450 support. During the slide, the amount bankrupt the 61.8% Fib retracement akin of the aftermost beachcomber from the $6,151 low to $6,823 high. Besides, there was a breach beneath the $6,400 abutment and the 100 alternate simple affective average.
More importantly, yesterday’s accent key bullish trend band was burst with abutment at $6,435 on the alternate blueprint of the BTC/USD pair. The brace traded appear the $6,350 akin and it is currently accumulation losses. The abutting abutment is about the $6,310 level. It represents the 76.4% Fib retracement akin of the aftermost beachcomber from the $6,151 low to $6,823 high. Below this, the amount will best acceptable bead appear the capital abutment at $6,285 (the antecedent resistance). Any further losses will best acceptable put sellers in ascendancy for a advance appear $6,110.
Looking at the chart, bitcoin amount is currently in a bearish area beneath $6,450 and the 100 alternate SMA. To animation back, the amount charge breach the $6,450 and $6,485 attrition levels. If not, there is a cogent accident of added slides appear the $6,285 abutment in the abreast term.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BTC/USD is aback in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI is now able-bodied beneath the 40 level.
Major Support Level – $6,285
Major Resistance Level – $6,450
