Bitcoin price started a new upward movement above $ 102,000. BTC rises and can get pace for a movement above the $ 105,000 resistance zone.
- Bitcoin started a considerable upward movement above $ 102,000 zone.
- The price is traded above $ 103,500 and the simple simple advancing average of 100 hours.
- There was a break over an important bearish trend line with resistance at $ 102,400 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple can start a new decline if it remains below $ 105,000 zone.
Bitcoin -Price breaks resistance
Bitcoin price started a considerable increase above the $ 100,000 resistance zone. BTC was able to surpass the resistance levels of $ 102,000 and $ 102,200 to go to a positive zone.
There was a break above an important bearish trend line with resistance at $ 102,400 on the hour table of the BTC/USD pair. The pair climbed over the 61.8% FIB retracement level of the downward wave of $ 107,080 Swing high to $ 97,688 low. It even knew the $ 103,500 resistance zone.
The couple settled in a positive zone and is now confronted with obstacles near the $ 105,000 zone. Bitcoin price is now traded above $ 103,000 and the 100 simple advancing average. At the top is immediate resistance near the $ 104,800 level or the 76.4% FIB retracement level of the downward wave of the $ 107,080 Swing high to $ 97,688 low.
The first key resistance is near the level of $ 105,000. The next key resistance can be $ 105,500. A close -up resistance of $ 105,500 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 107,000 tests. More profits can send the price in the short term to the level of $ 108,800.
Another decline in BTC?
If Bitcoin does not rise above the $ 105,000 resistance zone, this can start a new decline. Immediate support on the disadvantage is near the level of $ 103,200. The first major support is near the level of $ 102,000.
The next support is now near the $ 101,200 zone. More losses can send the price in the short term to the support of $ 100,000.
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 – $ 103,200, followed by $ 102,000.
Important resistance levels – $ 105,000 and $ 107,000.