Reason to trust
Strictly editorial policy that focuses on accuracy, relevance and impartiality
Made by experts from the industry and carefully assessed
The highest standards in reporting and publishing
Strictly editorial policy that focuses on accuracy, relevance and impartiality
Morbi Pretium Leo et Nisl Aliquam Mollis. Quisque Arcu Lorem, Ultricies Quis Pellentesque NEC, Ullamcorper Eu Odio.
Este Artículo También Está Disponible and Español.
Bitcoin price slowly moves higher above $ 83,500 zone. BTC must delete the $ 85,200 resistance zone to stay higher in the short term.
- Bitcoin found support for $ 83,200 and started a recovery wave.
- The price is traded above $ 84,500 and the simple simple advancing average of 100 hours.
- There was a break above a connecting bearish trend line with resistance at $ 84,650 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple could start another increase if it knew the $ 85,200 zone.
Bitcoin Price eyes fresh upside down
Bitcoin price started a new decrease under the levels of $ 86,200 and $ 85,500. BTC even dropped below the $ 84.00 level before the bulls appeared.
The price tested the support of $ 83,200. A low point was formed at $ 83,171 and the price recently started a recovery wave. The price climbed above the $ 84,500 resistance zone. There was a break above the 50% FIB racement level of the downward movement of the $ 86,400 Swing high to $ 83.171 low.
In addition, there was a break above a connecting bearish trend line with resistance at $ 84,650 on the hour table of the BTC/USD pair. Bitcoin price is now traded above $ 84,500 and the 100 simple advancing average per hour.
At the top is immediate resistance near the level of $ 85,200. It is close to the 61.8% FIB retraction level of the downward movement of the $ 86,400 Swing high to $ 83.171 low. The first key resistance is near the level of $ 85,500. The next key resistance can be $ 86,500.
A close -up resistance of $ 86,500 can further send the price. In the indicated case, the price could rise and the resistance level of $ 87,200 tests. More profits can send the price to the level of $ 88,800.
Another decline in BTC?
If Bitcoin does not rise above the $ 85,200 resistance zone, this can start a decrease. Immediate support on the disadvantage is near the level of $ 84,500. The first major support is near the level of $ 84,000.
The next support is now near the $ 83,200 zone. More losses can send the price to the support of $ 82,500 in the short term. The most important support is at $ 81,800.
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 $ 83,200.
Important resistance levels – $ 85,200 and $ 85,500.