Bitcoin price started a recovery wave above the $ 105,000 zone. BTC is now consolidating and can try to erase the $ 106,500 resistance.
- Bitcoin started a recovery wave above the $ 105,000 zone.
- The price is traded above $ 105,000 and the simple simple advancing average of 100 hours.
- There is a bullish trend line that forms with support at $ 105,350 on the hourly table of the BTC/USD pair (data specialty).
- The couple can start a new decline if it breaks the $ 104,000 support zone.
Bitcoin -Price Restart increases
Bitcoin price started a new decrease and was traded under the $ 102,500 support zone. BTC even exchanged near the $ 100,000 zone before the Bulls appeared.
A layer was formed and the price was won above the resistance of $ 103,500. The bull even pushed the price above the $ 105,000 resistance. A high was formed at $ 106,426 and the price is now the profits above the 23.6% FIB retracement level of the upward movement of the $ 100,400 Swing low to $ 106,426 high.
Bitcoin is now traded above $ 105,000 and the 100 -hour simple advancing average. There is also a bullish trend line that forms with support for $ 105,350 on the hour table of the BTC/USD pair.
At the top is immediate resistance near the level of $ 106,200. The first key resistance is near the level of $ 106,500. The next key resistance can be $ 107,600. An end above the resistance of $ 107,600 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 108,800 tests. More profits can send the price to the $ 110,000 level.
Another decline in BTC?
If Bitcoin does not rise above the $ 106,200 resistance zone, this can start a decrease. Immediate support is close to the level of $ 105,200 and the trend line. The first major support is near the $ 103,500 level and the 50% FIB retracement level of the upward movement of the $ 100,400 swing low to $ 106,426 high.
The next support is now near the $ 102,000 zone. More losses can send the price to the support of $ 100,500 in the short term. The most important support is $ 100,000, including BTC a bearish Momentum.
Technical indicators:
MACD per hour – The MACD now wins pace in the bullish zone.
Picly RSI (Relative strength -Index) -The RSI for BTC/USD is now above 50 -level.
Important support levels – $ 105,200, followed by $ 103,500.
Large resistance levels – $ 106,200 and $ 107,600.