THELOGICALINDIAN - Key Points
Bitcoin amount is accepting drive aloft $9,500 adjoin the US Dollar. BTC/USD is acceptable to advance college aloft the $10,000 and $10,500 levels in the abreast term.
Bitcoin Price Uptrend
This accomplished week, bitcoin amount traded with mostly bullish bias aloft the $9,000 abutment akin adjoin the US Dollar. The amount boring confused college and bankrupt the $9,250, $9,500 and $9,700 attrition levels. It traded abutting to the $10,000 akin and formed a aerial at $9,960. Buyers bootless to advance the amount aloft the $10,000 level, but the bent is still positive.
There was a accessory downside alteration from the $9,960 high. BTC amount beneath and traded beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $8,847 low to $9,960 high. However, the abatement was prevented by the $9,600 abutment level. There is additionally a aloft bullish trend band basic with abutment at $9,600 on the 4-hours blueprint of the BTC/USD pair. Moreover, the 38.2% Fib retracement akin of the aftermost beachcomber from the $8,847 low to $9,960 aerial additionally acted as a support. At the moment, the amount is placed accurately aloft $9,600 and it may abide to move higher during the advancing days.
Looking at the chart, it seems like the amount could advance assets aloft the $10,000 level. Aloft this last, the abutting stop for buyers could be $10,800 and $11,000 in the abreast term.
Looking at the abstruse indicators:
4-hours MACD – The MACD for BTC/USD is boring abbreviation its bullish slope.
4-hours RSI (Relative Strength Index) – The RSI is affective lower from the 70 level.
Major Support Level – $9,600
Major Resistance Level – $10,000
