THELOGICALINDIAN - Key Points
Bitcoin amount is affective accurately aloft the $8,600 abutment adjoin the US Dollar. Going forward, BTC/USD is assertive to extend assets aloft $10,000 and $10,500.
Bitcoin Price Trend
This accomplished week, bitcoin amount gained traction and traded appear the $9,800 akin adjoin the US Dollar. It traded as aerial as $9,742 afore sellers appeared. Later, a downside alteration was accomplished and the amount beneath beneath the $9,500 and $9,200 abutment levels. The amount alike bankrupt the 23.6% Fib retracement akin of the aftermost leg from the $7,786 low to $9,742 high. Finally, there was a fasten beneath the $9,000 akin afore buyers reappeared.
BTC amount activated the 61.8% Fib retracement akin of the aftermost leg from the $7,786 low to $9,742 aerial to complete a alteration pattern. It started an upside move and confused aback aloft $9,000. Buyers additionally succeeded in breaking a abutting bearish trend band with attrition at $9,200 on the 4-hours blueprint of the BTC/USD pair. It seems like the brace is aback in an uptrend aloft $9,200, and it could advance assets appear $9,750. More importantly, the amount may conceivably breach the all-important $10,000 akin to barter to a new account high.
Looking at the chart, there is a key bullish trend band in abode with abutment at $9,150. Therefore, if the amount corrects lower from the accepted levels, again $9,200, $9.150 and $9,000 levels are acceptable to anticipate declines.
Looking at the abstruse indicators:
4-hours MACD – The MACD for BTC/USD is aback in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI is affective college appear the 65 level.
Major Support Level – $9,150
Major Resistance Level – $9,750
