May this work and breakout new high for long run.
There was a solid support formed above the $6,300 level in bitcoin price against the US Dollar. The BTC/USD pair started a key upside move and settled above the $6,500 resistance zone. There was even a close above the $6,500 level and the 100 hourly simple moving average. It opened the gates for more gains and the price moved into a positive zone above the $6,600 level.
Looking at the technical indicators:
Hourly MACD – The MACD for BTC/USD is slowly moving back in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI is moving lower towards the 60 level.
Major Support Level – $6,568.
Major Resistance Level – $6,800.