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Bitcoin price started a recovery wave above $ 80,500 zone. BTC is now rising and can strive for a movement above the levels of $ 84,000 and $ 85,000.
- Bitcoin started a decent wave of recovery above the $ 81,000 zone.
- The price is traded above $ 81,500 and the simple simple advancing average of 100 hours.
- There was a break under a bullish trend line in the short term with support at $ 83,000 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple can start a new increase if it knew the levels of $ 82,500 and $ 84,000.
Bitcoin -Rise stable price eyes
Bitcoin price remained stable above the level of $ 78,000. BTC formed a basis and recently started a recovery wave above the resistance level of $ 80,500.
The bulls pushed the price above the resistance level of $ 82,000. De Beren, however, were active near the $ 84,000 resistance zone. A high was formed at $ 84,200 and the price corrected some winnings. There was a movement below the level of $ 83,000.
The price fell below the 50% FIB retracement level of the upward movement of the $ 76,818 Swing low to $ 84,200 high. By the way, there was a break under a bullish trend line in the short term with support for $ 83,000 on the hour table of the BTC/USD pair.
Bitcoin price is now traded above $ 81,200 and the 100 simple advancing average per hour. At the top is immediate resistance near the level of $ 82,450. The first key resistance is near the level of $ 84,000. The next key resistance can be $ 85,000.
A close -up resistance of $ 85,000 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 86,500 tests. More profits can send the price to the $ 88,000 level or even $ 96,200.
Another drop in BTC?
If Bitcoin does not rise above the $ 82,450 resistance zone, this can start a new decline. Immediate support on the disadvantage is near the level of $ 80,500. The first major support is near the $ 79,600 level or the 61.8% FIB retracement level of the upward movement of the $ 76,818 Swing Low to $ 84,200 high.
The next support is now near the $ 78,500 zone. More losses can send the price in the short term to the support of $ 77,000. The most important support is at $ 76,500.
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 – $ 80,500, followed by $ 79,600.
Important resistance levels – $ 82,450 and $ 84,000.