THELOGICALINDIAN - Key Points
Bitcoin amount is accurate accurately aloft the $6,500 akin adjoin the US Dollar. BTC/USD charge bright the $7,500 hurdle for added assets in the abreast term.
Bitcoin Price Resistance
After a aloft decline, bitcoin amount formed a decent support aloft the $6,500 akin adjoin the US Dollar. The amount started an upside move and traded aloft $7,000. However, the amount struggled to accretion drive and beneath already afresh aback appear the $6,500 level. The mentioned abutment holds a lot of accent with assorted rejections about the $6,600 and $6,500 levels.
At the moment, the amount is trading abreast the 23.6% Fib retracement akin of the aftermost bead from the $9,220 aerial to $6,448 low. However, there are abounding barriers on the upside abreast the $7,200 and $7,500 levels. An antecedent attrition is abreast the 38.2% Fib retracement akin of the aftermost bead from the $9,220 aerial to $6,448 low. The abutting one is about the $7,400 akin and the 100 simple affective boilerplate (4-hours). There is additionally a above bearish trend band forming with resistance at $7,500 on the 4-hours blueprint of the BTC/USD pair.
The brace may alpha an upside move appear the $7,400 and $7,500 levels. However, a breach aloft the $7,500 akin would be actual difficult. A breach aloft $7,500 could accessible the doors for added gains. On the cast side, the $6,600 and $6,500 abutment levels authority a lot of significance.
Looking at the abstruse indicators:
4-hours MACD – The MACD for BTC/USD is assuming a few absolute signs.
4-hours RSI (Relative Strength Index) – The RSI is currently aloof aloft the 50 level.
Major Support Level – $6,600
Major Resistance Level – $7,500
Charts address –Trading View
