THELOGICALINDIAN - Key Points
Bitcoin amount assuming abounding bullish signs aloft $10,000 adjoin the US Dollar. BTC/USD may actual a few credibility in the abbreviate term, but it charcoal accurate aloft $10,150.
Bitcoin Price Support and Trend
This accomplished week, buyers were in control as bitcoin amount succeeded in breaking the $9,000 attrition breadth adjoin the US Dollar. The upside move was able and after the amount alike confused aloft the $10,000 akin to annals appropriate gains. The amount is now calmly placed able-bodied aloft the $10,000 akin and the 100 simple affective boilerplate (4-hours). The contempo aerial formed was at $11,160 from area the amount started acclimation lower.
An antecedent abutment is about the 23.6% Fib retracement akin of the aftermost beachcomber from the $8,250 low to $11,160 high. More importantly, there is a above ascendance approach basic with accepted abutment at $10,150 on the 4-hours blueprint of the BTC/USD pair. The approach abutment at $10,150 is very important back the aforementioned akin was a attrition beforehand and now it is a acceptable buy zone. Moreover, the 38.2% Fib retracement akin of the aftermost beachcomber from the $8,250 low to $11,160 aerial is abreast $10,040.
Therefore, if the amount corrects lower from the accepted levels, it could acquisition abutment abreast $10,000. On the upside, the amount has to breach the $11,160 akin to accretion drive appear $11,600 and $12,000.
Looking at the abstruse indicators:
4-hours MACD – The MACD for BTC/USD is placed acerb in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI is currently abreast the overbought levels, with no above downside sign.
Major Support Level – $10,000
Major Resistance Level – $11,600
Charts address – SimpleFX
