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Bitcoin price started a new increase above $ 82,500 zone. BTC now consolidates profits and can try to erase the $ 85,850 resistance.
- Bitcoin started a new increase above the $ 83,200 zone.
- The price is traded above $ 82,500 and the 100 -hour simple advancing average.
- There was a break over a connecting bearish trend line with resistance at $ 84,500 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple can start a different increase if it knew the $ 85,500 zone.
Bitcoin -price rises again
Bitcoin price started a new increase above $ 81,500 zone. BTC formed a basis and was given pace for a movement above the resistance levels of $ 82,500 and $ 83,200.
The bulls pumped the price above the resistance of $ 84,500. A high was formed at $ 85,850 and the price recently started a disadvantage correction. There was a movement under the support of $ 84,500. The price fell below the 23.6% FIB retraction level of the upward movement of the $ 78,600 Swing low to $ 85,850 high.
However, the price remained stable above $ 82,200. Bitcoin price is now traded above $ 82,500 and the 100 simple advancing average per hour. There was a break over a connecting bearish trend line with resistance at $ 84,500 on the hour table of the BTC/USD pair.
At the top is immediate resistance near the level of $ 85,500. The first key resistance is near the level of $ 85,850. The next key resistance can be $ 86,500. A close -up resistance of $ 86,500 can further send the price. In the declared case, the price could rise and the resistance level of $ 88,000 tests. More profits can send the price to the level of $ 88,800.
Another decline in BTC?
If Bitcoin does not rise above the $ 85,500 resistance zone, it can continue to move. Immediate support on the disadvantage is near the level of $ 84,200. The first major support is near the $ 82,200 level and the 50% FIB retracement level of the upward movement of the $ 78,600 Swing Low to $ 85,850 High.
The next support is now near the $ 81,200 zone. More losses can send the price in the short term to the support of $ 80,500. 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 – $ 84,500, followed by $ 82,200.
Important resistance levels – $ 85,500 and $ 85,800.