THELOGICALINDIAN - Key Points
Bitcoin amount confused into a bullish area aloft $6,375 adjoin the US Dollar. BTC/USD is acclimation lower, but it is acceptable to acquisition abutment abreast $6,380 or $6,375.
After testing the $6,200 abutment area, bitcoin amount begin a strong affairs interest adjoin the US Dollar. The BTC/USD brace started an advancement move and traded aloft the $6,335 and $6,350 attrition levels. The upside move was able as the amount alike acclimatized aloft $6,375 and 100 alternate simple affective average. Buyers pushed the amount aloft the $6,410-20 attrition area and a new account aerial was formed at $6,472.
During the advancement move, there was a breach aloft a above application triangle with attrition at $6,350 on the alternate blueprint of the BTC/USD pair. Later, the amount started a downside alteration and beneath beneath $6,440. There was a breach beneath the 23.6% Fib retracement akin of the contempo beachcomber from the $6,323 low to $6,472 high. However, there are many supports on the downside abreast the $6,380 level. An actual abutment is at $6,398-6,400. Beneath this, the abutting abutment is at $6,375 and the 61.8% Fib retracement akin of the contempo beachcomber from the $6,323 low to $6,472 high.
Looking at the chart, bitcoin amount is acutely trading in a absolute area aloft $6,375 and 100 alternate simple affective average. As continued as there is no abutting beneath the 100 alternate SMA, the amount is acceptable to advance aloft $6,440 or $6,475 in the abreast term.
Looking at the abstruse indicators:
Hourly MACD – The MACD for BTC/USD is boring affective in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI is still able-bodied aloft the 50 level.
Major Support Level – $6,375
Major Resistance Level – $6,475
