Bitcoin Price started a new increase compared to the $ 78,000 support zone. BTC has to free $ 95,000 to stay higher in the short term.
- Bitcoin started a new increase above the $ 90,000 resistance zone.
- The price is traded above $ 92,000 and the simple simple advancing average of 100 hours.
- There is a connecting bullish trend line that forms with support at $ 89,750 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple can start a new decline if it does not remain above the $ 87,000 zone.
Bitcoin -price rallies of more than 10k
Bitcoin price extended losses below the $ 80,000 level before the bulls appeared. BTC traded as low as $ 78,011 and recently started a strong increase. There was a movement above the resistance levels of $ 85,000 and $ 88,000.
The price rose by more than 10% and knew the $ 90,000 level. It tested the resistance of $ 95,000. A high was formed at $ 95,000 and the price is now consolidating. It acts near the 23.6% FIB retraction level of the upward movement of the $ 84,500 swing low to $ 95,000 high.
Bitcoin price is now traded above $ 92,000 and the 100 -hour simple advancing average. There is also a connecting bullish trend line that forms with support for $ 89,750 on the hour table of the BTC/USD pair. At the top is immediate resistance near the level of $ 94,000. The first key resistance is near the level of $ 95,000.
The next key resistance can be $ 96,500. A close -up resistance of $ 96,500 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 98,500 tests. More profits can send the price to the $ 100,000 level or even $ 100,500.
Are dips supported 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 close to the $ 92,000 level. The first major support is near the $ 90,000 level.
The next support is now near the $ 88,500 zone and the 50% FIB retracement level of the upward movement of the $ 84,500 swing low to $ 95,000 high. More losses can send the price to the support of $ 87,000 in the short term. The most important support is $ 85,500.
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 – $ 92,000, followed by $ 90,000.
Important resistance levels – $ 94,000 and $ 95,000.