THELOGICALINDIAN - Bitcoin amount is assuming a lot of absolute signs aloft 10500 adjoin the US Dollar BTC charcoal accurate for added assets appear the 11000 and 11200 attrition levels
Bitcoin Price Analysis
Yesterday, we saw strong gains in BTC aloft the $10,500 attrition breadth adjoin the US Dollar. The amount traded abutting the $10,800 akin and after adapted lower beneath $10,700. Moreover, there was a breach beneath the $10,550 level, but the $10,400 akin acted as a able abutment area. As a result, the amount climbed college and bankrupt the aftermost beat aerial abreast $10,790. A new account aerial was formed abreast $10,888 and afresh the amount adapted lower.
It traded beneath the $10,600 akin additional the 50% Fib retracement akin of the contempo beachcomber from the $10,321 low to $10,888 high. However, the abatement was adequate by the $10,500 abutment area. Additionally, yesterday’s accent key bullish trend band is accouterment abutment abreast $10,510 on the alternate blueprint of the BTC/USD pair. The 76.4% Fib retracement akin of the contempo beachcomber from the $10,321 low to $10,888 aerial additionally adequate downsides.
At the moment, the amount is trading with a absolute bend aloft the $10,600 level. On the upside, an actual attrition is abreast the $10,700 and $10,800 levels. If there is a acknowledged abutting aloft $10,800, the price is acceptable to advance higher aloft the $10,880 and $10,900 levels. The abutting key attrition is abreast the $11,000 level. If there are added gains, the amount could analysis the $11,200 attrition area.
Conversely, if the amount fails to breach the $10,700 and $10,800 attrition levels, it could actual lower. An antecedent abutment is abreast the $10,500 level. However, the capital abutment is abreast the $10,400 level, beneath which the amount could extend its abatement appear the $10,200 abutment and the 100 alternate SMA.
Looking at the chart, bitcoin amount is acceptable to bullwork college as continued as there is no abutting beneath the $10,400 abutment area. It seems like the beasts are aiming an upside breach aloft $11,000 in the advancing sessions.
Technical indicators:
Hourly MACD – The MACD is about to move aback into the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is affective college and is currently aloft the 50 level.
Major Support Levels – $10,500 followed by $10,400.
Major Resistance Levels – $10,700, $10,800 and $11,000.
