The Psychedelic Paintings of Yu Maeda

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The psychedelic work of Yu Maeda mix creatures, shifting views, and touches of the artist’s expertise in graphic design. Born in Kumamoto, Japan, and at the moment based mostly in Southern California, the artist combines influences from the entire fields he’s touched, together with animation. A few of his extra symmetrical works resemble Tibetan Buddhist mandalas, whereas others tackle a extra portrait-style have a look at his monsters. Extra Supply hyperlink from WordPress https://ift.tt/2OkGLyn via IFTTT
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Bitcoin Price Watch: BTC/USD Breaks Key Resistance, Dips Remain Supported

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Key Points

  • Bitcoin price gained bullish momentum and surged above the $6,480 and $6,550 resistances against the US Dollar.
  • Yesterday’s highlighted key bearish trend line was breached with resistance near $6,475 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair traded above the $6,900 and is currently correcting lower towards key supports.

Bitcoin price broke key resistance at $6,550 against the US Dollar. BTC/USD is back in a bullish zone with a close above the $6,620 high.

Bitcoin Price Analysis

Yesterday, we discussed a few important hurdles near $6,550 in bitcoin price against the US Dollar. The BTC/USD pair traded in a range above the $6,400 level and later surged higher. The price started an upward move and cleared the $6,480 and $6,550 resistance levels. Moreover, there was a break above the last swing high at $6,620 and the 100 hourly simple moving average.

During the upside, yesterday’s highlighted key bearish trend line was breached with resistance near $6,475 on the hourly chart of the BTC/USD pair. A new weekly high was formed near the $6,921 level. Later, there was a downside correction below the $6,900 level. There was also a break below the 23.6% Fib retracement level of the last wave from the $6,236 low to $6,921 high. However, there are many supports on the downside near the $6,600 and $6,550 levels. Additionally, the 50% Fib retracement level of the last wave from the $6,236 low to $6,921 high is near $6,578 to act as a support.

Looking at the chart, if bitcoin is back in a positive zone with a close above the $6,550 level. On the upside, resistances are at $6,800 and $6,900, above which the price may well test the $7,000 level.

Looking at the technical indicators:

Hourly MACD – The MACD for BTC/USD is placed nicely in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI is currently retreating from the 75-80 levels.

Major Support Level – $6,550

Major Resistance Level – $6,900

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