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Bitcoin price rises again above the $ 95,000 zone. BTC wins pace and can strive for a movement above the $ 97,500 resistance zone.
- Bitcoin remained supported above $ 94,500 zone.
- The price is traded above $ 95,000 and the simple simple advancing average of 100 hours.
- There is a connecting bullish trend line that forms with support at $ 96,350 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple could start another increase if it knew the $ 97,500 zone.
Bitcoin -Price regains strength
Bitcoin price formed a basis above the level of $ 93,500. BTC started a new increase and was able to erase the $ 95,500 resistance zone to determine the pace for a greater increase.
The bulls even pushed the price above the resistance of $ 96,500. A high was formed at $ 97,405 and the price is now consolidating profit. There was a small decrease below the level of $ 97,000 and the price tested the 23.6% FIB retracement level of the upward movement of the $ 92,970 Swing low to $ 97,405 high.
Bitcoin price is now traded above $ 95,000 and the 100 simple advancing average. There is also a connecting bullish trend line that forms with support for $ 96,350 on the hour table of the BTC/USD pair.
At the top is immediate resistance near the level of $ 97,200. The first key resistance is near the level of $ 97,400. The next key resistance can be $ 97,500. A close -up resistance of $ 97,500 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 98,800 tests. More profits can send the price to the $ 100,000 level.
Another decline in BTC?
If Bitcoin does not rise above the $ 97,500 resistance zone, this can start a new downward correction. Immediate support on the disadvantage is near the level of $ 96,500 and the trend line. The first major support is near the level of $ 96,000.
The next support is now near the $ 95,200 zone and the 50% FIB retracement level of the upward movement of the $ 92,970 Swing low to $ 97,405 High. More losses can send the price to the support of $ 94,500 in the short term. The most important support is at $ 94,200.
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 – $ 96,500, followed by $ 95,500.
Important resistance levels – $ 97,500 and $ 98,000.