Bitcoin price is holding key supports against the US Dollar. BTC/USD could move higher indeed as long as it is over the $6,400 support.
This previous week, bitcoin price made a pleasant upside move from the $6,300-6,310 zone against the US Dollar. The BTC/USD pair moved higher and broke the $6,500 and $6,700 resistance levels. There was likewise a nearby over the $6,500 level and the 100 straightforward moving normal (4-hours). In any case, the upside move was topped by the $8,000 resistance. Bitcoin price declined and moved beneath the half Lie retracement level of the last wave from the $6,317 low to $6,800 high.
Afterward, purchasers showed up close to the $6,450 level and the 100 SMA. Besides, there was no trial of the 76.4% Lie retracement level of the last wave from the $6,317 low to $6,800 high. On the drawback, there is a solid support formed close to the $6,400 and $6,380 levels. There is additionally a noteworthy bullish pattern line set up with support at $6,400 on the 4-hours graph of the BTC/USD pair. Therefore, if bitcoin price plunges from the present levels, the $6,400 support could go about as a solid purchase zone.
Taking a gander at the outline, Bitcoin price is set pleasantly over the pattern line and the $6,400 support. On the upside, purchasers need to drive the price over the $6,680 and $6,800 resistance levels. The primary resistance for a bigger upward move is at $7,000.
Taking a gander at the technical markers:
4-hours MACD – The MACD for BTC/USD is gradually moving in the bearish zone.
4-hours RSI (Relative Strength Index) – The RSI is simply beneath the 50 level.
Real Support Level – $6,400
Real Resistance Level – $6,800