THELOGICALINDIAN - Key Points
Bitcoin amount is captivation assets aloft $6,290 adjoin the US Dollar. BTC/USD could ascend added college appear the $6,355 and $6,385 attrition levels.
Yesterday, we discussed chances of added losses beneath the $6,250 abutment in bitcoin amount adjoin the US Dollar. The BTC/USD brace did move bottomward beneath the $6,250 and retested the $6,200 support. However, there was a able affairs absorption abreast the $6,200 zone, consistent in a aciculate recovery. The amount traded as low as $6,205 and after jumped aloft the $6,290 and $6,300 attrition levels.
The upside move was able as the amount acicular aloft the $6,355 attrition and the 100 alternate simple affective average. However, buyers bootless to authority assets aloft the $6,355 level, which resulted in a advance beneath $6,320 and the 100 alternate SMA. The amount activated the 50% Fib retracement akin of the contempo beachcomber from the $6,205 low to $6,377 high. The accepted amount activity is absolute and it seems like the amount may ascend aback appear $6,355 or $6,385 in the abreast term. An antecedent abutment awaits abreast $6,290 followed by the 61.8% Fib retracement akin of the contempo beachcomber from the $6,205 low to $6,377 high. The main support on the downside beneath $6,271 is abreast the $6,245 level.
Looking at the chart, bitcoin amount is accurately accurate abreast $6,290 and $6,245. As continued as there is no breach beneath the contempo low, the amount could balance aloft $6,355.
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 able-bodied aloft the 50 level.
Major Support Level – $6,245
Major Resistance Level – $6,355
