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Bitcoin Price started a recovery wave from the $ 82,000 zone. BTC is back above $ 88,500 and can review the $ 95,000 resistance zone.
- Bitcoin started a new upward movement from the $ 82,000 zone.
- The price is traded above $ 90,000 and the simple simple advancing average of 100 hours.
- There was a break over a connecting bearish trend line with resistance at $ 90,000 on the hourly table of the BTC/USD pair (data feed from Kraken).
- The couple can start a new decline if it did not know the $ 95,000 resistance zone.
Bitcoin -Price starts recovery
Bitcoin price started a new fall below the level of $ 92,000. BTC traded under the support levels of $ 90,000 and $ 88,000. Finally, the price tested the $ 82,000 support zone.
A low point was formed at $ 81,434 and the price recently started a recovery wave. There was a movement above the resistance levels of $ 85,000 and $ 88,000. The bulls pushed the price above the 50% FIB racement level of the downward movement of the $ 95,000 resistance to $ 81,434 low.
There was also a break over a connecting bearish trend line with resistance at $ 90,000 on the hourly table of the BTC/USD pair. Bitcoin Price is now traded above $ 90,000 and the 100 -hour simple advancing average.
At the top is immediate resistance near the $ 91,800 level or the 76.4% FIB retracement level of the downward movement of the $ 95,000 resistance to $ 81,434 low. The first key resistance is near the level of $ 92,500. The next key resistance can be $ 93,500.
An end above the resistance of $ 93,500 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 95,000 tests. More profits can send the price to the level of $ 96,200 or even $ 98,000.
Another decline in BTC?
If Bitcoin does not rise above the $ 92,000 resistance zone, this can start a new decline. Immediate support on the disadvantage is near the level of $ 88,000. The first major support is near the level of $ 86,200.
The next support is now near the $ 85,000 zone. More losses can send the price in the short term to the support of $ 82,000. The most important support is at $ 80,000.
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 – $ 88,000, followed by $ 85,000.
Important resistance levels – $ 92,000 and $ 93,500.