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Bitcoin price started a new fall below $ 103,000 zone. BTC is now consolidating and may have trouble recovering above $ 103,500.
- Bitcoin started a new fall under the $ 103,000 zone.
- The price is traded under $ 102,500 and the simple simple advancing average of 100 hours.
- There is an important bearish trend line that forms with resistance at $ 101,250 on the hour table of the BTC/USD pair (data specialty).
- The couple can start a new increase if it remains above $ 100,000 zone.
Bitcoin -price drops further
Bitcoin price started a new fall below $ 105,500 zone. BTC became pace and fell under the levels of $ 104,200 and $ 103,000.
There was a clear movement below the support level of $ 102,000. Finally, the price tested the $ 98,250 zone. A layer was formed at $ 98,277 and the price started a consolidation phase. There was a small recovery above the 23.6% FIB retracement level of the downward movement of the $ 106,470 Swing high to $ 98.277 Low.
However, the bears were active among $ 101,200 zone. Bitcoin is now traded under $ 102,000 and the 100 -hour simple advancing average. There is also an important bearish trend line that forms with resistance to $ 101,250 on the hour table of the BTC/USD pair.
At the top is immediate resistance near the level of $ 101,250. The first key resistance is near the $ 102,500 level or the 50% FIB retracement level of the downward movement of the $ 106,470 Swing high to $ 98,277 low. The next key resistance can be $ 103,500.
A close -up resistance of $ 103,500 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 105,000 tests. More profits can send the price to the level of $ 106,200.
Another drop in BTC?
If Bitcoin does not rise above the $ 102,000 resistance zone, this can start a new decline. Immediate support is near the level of $ 100,150. The first major support is near the level of $ 98,500.
The next support is now near the $ 96,500 zone. All losses can send the price in the short term to the support of $ 95,500. The most important support is $ 95,000, including BTC may have trouble finding bids.
Technical indicators:
MACD per hour – the MACD now loses pace in the Bearish zone.
Picly RSI (relative strength -index) -The RSI for BTC/USD is now below the 50 -level level.
Important support levels – $ 100,150, followed by $ 100,000.
Large resistance levels – $ 101,250 and $ 103,500.