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Bitcoin price started a new decrease and tested the $ 104,200 zone. BTC is now consolidating and may have difficulty eradicating the $ 106,800 resistance zone.
- Bitcoin started a consolidation phase above the $ 104,000 zone.
- The price acts under $ 106,000 and the simple simple advancing average of 100 hours.
- There is a bullish trend line that forms with support for $ 104,450 on the hourly table of the BTC/USD pair (data specialty).
- The couple can start a new increase if it knew the $ 106,800 resistance zone.
Bitcoin -Price Dips to support
Bitcoin Price started a new decrease and traded under the $ 105,650 support zone. BTC even traded below the level of $ 105,200 and tested the $ 104,200 zone.
A low point was formed at $ 104,279 and the price is now losing consolidation. There was a movement above the level of $ 104,500 and the 23.6% FIB racement level of the recent decrease of the $ 106,820 Swing high to $ 104,279 low.
Bitcoin is now traded under $ 106,000 and the 100 -hour simple advancing average. There is also a connecting bullish trend line that forms with support for $ 104,450 on the hour table of the BTC/USD pair. At the top is immediate resistance near the level of $ 105,500. It is close to the 50% FIB racement level of the recent decrease of the $ 106,820 Swing high to $ 104,279 low.
The first key resistance is near the level of $ 106,220. The next key resistance can be $ 106,800. A close -up resistance of $ 106,800 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 107,500 tests. More profits can send the price to the $ 110,000 level.
More losses in BTC?
If Bitcoin does not rise above the $ 106,000 resistance zone, this can start a new decline. Immediate support is close to the level of $ 104,500 and the trend line. The first major support is near the level of $ 104,200.
The next support is now near the $ 103,200 zone. More losses can send the price to the $ 102,500 in the short term. The most important support is $ 101,200, including BTC may get Bearish Momentum.
Technical indicators:
HORLY MACD – The MACD now loses pace in the bullish zone.
Picly RSI (relative strength -index) -The RSI for BTC/USD is now below the 50 -level level.
Important support levels – $ 104,200, followed by $ 103,200.
Large resistance levels – $ 105,500 and $ 106,800.