THELOGICALINDIAN - Bitcoin amount is assuming a lot of bullish signs aloft 9000 adjoin the US Dollar BTC currently traded appear 9500 and it charcoal able-bodied accurate for added assets this week
Bitcoin Price Analysis
After a accessory downside correction, bitcoin amount found support abreast the $9,150 akin adjoin the US Dollar. The BTC/USD brace remained able-bodied bid and started a beginning increase. It bankrupt the aftermost beat aerial abreast $9,392 and traded to a new 2019 aerial abreast the $9,473 level. However, the beasts bootless to accretion backbone aloft $9,500 and the amount started addition downside correction.
BTC traded beneath the $9,300 abutment and the 23.6% Fib retracement akin of the contempo beachcomber from the $8,830 low to $9,473 high. At the moment, the amount is award abutment abreast the $9,250 level. Moreover, there is a key blemish arrangement basic with abutment abreast $9,220 on the alternate blueprint of the BTC/USD pair. If the brace break the $9,220 support, it could analysis the $9,150 support.
The 50% Fib retracement akin of the contempo beachcomber from the $8,830 low to $9,473 aerial is additionally abreast the $9,150 akin to act as a able support. If there are added losses, the amount ability analysis the capital abutment abreast the $9,000 level. An average abutment is $9,075 and the 61.8% Fib retracement akin of the contempo beachcomber from the $8,830 low to $9,473 high.
On the upside, an antecedent attrition is abreast the $9,320 and $9,350 levels. If the amount surpasses the $9,350 level, it is acceptable to ascend aback aloft $9,400. In the mentioned case, the amount could alike barter to a new 2019 aerial aloft the $9,500 akin in the abreast term. The next above hurdles are abreast $9,550 and $9,650.
Looking at the chart, bitcoin amount seems to be disturbing abreast $9,400 and $9,500. Therefore, there are affairs of a abbreviate appellation downside alteration beneath $9,250 afore a beginning increase. Having said that, the amount charge break aloft the $9,000 handle to abstain any above decline.
Technical indicators:
Hourly MACD – The MACD is boring accepting drive in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently aloof abreast the 50 level.
Major Support Levels – $9,150 followed by $9,000.
Major Resistance Levels – $9,350, $9,400 and $9,500.
