Bitcoin Price NOSDIVES Nearly 10%: Panic or purchase chances?

Bitcoin price started a new descent under the $ 100,000 zone. BTC is almost 10% lower and can test the $ 90,000 support zone.

• Bitcoin started a new fall below the level of $ 100,000.
• The price is traded under $ 99,500 and the simple simple advancing average of 100 hours.
• There is an important bearish trend line that forms with resistance to $ 96,200 on the hour table of the BTC/USD pair (data feed from Kraken).
• The couple can start a new increase if it remains above the $ 90,000 zone.

Bitcoin -Price dives under $ 100,000

Bitcoin Price started another fall below $ 100,000 zone. BTC received Beerarish Momentum for a movement below $ 98,000 and $ 95,000 levels. It even went under $ 93,000.

A low point was formed at $ 90,944 and the price is now losing consolidation. There was a small increase above the level of $ 92,500. The price even tested the 23.6% FIB racement level of the downward movement of the $ 106,000 swing high to $ 90,944 low. However, De Beren are now active near the $ 95,000 zone.

Bitcoin Price is now traded under $ 95,000 and the 100 simple advancing average. At the top is immediate resistance near the level of $ 95,000. The first key resistance is near the level of $ 96,500. There is also an important bearish trend line that forms with resistance at $ 96,200 on the hour table of the BTC/USD pair.

The following key resistance can be $ 98,400 or the 50% FIB retracement level of the downward movement of the $ 106,000 swing high to $ 90,944 low. A close -up resistance of $ 98,500 can further send the price. In the declared case, the price could rise and the resistance level of $ 96,800 tests. More profits can send the price to the $ 100,000 level.

Another decline in BTC?

If Bitcoin does not rise above the $ 95,000 resistance zone, this can start a new decline. Immediate support on the disadvantage is near the level of $ 92,500. The first major support is near the level of $ 92,000.

The next support is now near the $ 90,000 zone. More losses can send the price to the support of $ 88,500 in the short term.

Technical indicators:

MACD per hour – The MACD now wins 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 – $ 92,500, followed by $ 90,000.

Important resistance levels – $ 95,000 and $ 96,500.