THELOGICALINDIAN - Bitcoin amount surged college afresh aloft the 3550 barrier adjoin the US Dollar BTCUSD ability abide to move college appear the 3800 and 4000 attrition levels in the abreast term
Bitcoin Price Analysis
This accomplished week, bitcoin amount retested the $3,345 and $3,320 abutment levels adjoin the US Dollar. The BTC/USD brace formed a able abject abreast the $3,345 akin and after started a solid advancement move. Buyers pushed the amount aloft abounding resistances such as $3,380, $3,400, $3,460, $3,500 and $3,600. There was alike a abutting aloft the $3,500 attrition and the 100 simple affective boilerplate (4-hours). Clearly, there was a abutment abject formed for a abundant bare recovery, which could extend aloft $3,700.
During the rise, there was a breach aloft a acute bearish trend band with attrition at $3,380 on the 4-hours blueprint of the BTC/USD pair. The brace rallied aloft the $3,600 and $3,700 levels. A aerial was formed at $3,745 and after the amount adapted lower. It traded beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $3,346 low to $3,745 high. However, there are abounding supports on the downside, starting with $3,575. The abutting major support is abreast the $3,550 level. It represents the 50% Fib retracement akin of the aftermost beachcomber from the $3,346 low to $3,745 high.
Looking at the chart, BTC amount is acutely basic a alliance arrangement aloft the $3,575 support. There could be a few beat moves, but after the amount ability assemblage added aloft $3,750. The abutting key stops for buyers could be $3,800, $3,880 and $4,000 in the advancing days.
Technical indicators
4-hours MACD – The MACD for BTC/USD is currently abbreviation its bullish slope.
4-hours RSI (Relative Strength Index) – The RSI for BTC/USD is currently able-bodied aloft the 70 level.
Major Support Level – $3,550
Major Resistance Level – $3,750
