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Bitcoin price started a new increase and knew the $ 103,500 zone. BTC is now consolidating and may be aimed at erasing the $ 105,000 zone.
- Bitcoin started a new upward movement of the $ 101,500 zone.
- The price is traded above $ 103,000 and the simple simple advancing average of 100 hours.
- There was a break over a connecting bearish trend line with resistance at $ 103,950 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple could get Bullish Momentum if it knew the $ 105,000 resistance.
Bitcoin -Price strives higher
Bitcoin price started a new increase compared to the $ 101,500 support zone. BTC formed a basis and was able to erase the $ 102,500 resistance zone. The bulls even pushed the price above $ 103,200.
There was a movement above the 50% FIB retracement level of the downward movement of the $ 104,980 Swing high to $ 101,441 low. In addition, there was a break above a connecting bearish trend line with resistance at $ 103,950 on the hour table of the BTC/USD pair.
Bitcoin is now traded above $ 103,200 and the 100 simple advancing average per hour. At the top is immediate resistance near the $ 104,150 level or the 76.4% FIB retracement level of the downward movement of the $ 104,980 Swing high to $ 101,441 low.
The first key resistance is near the level of $ 105,000. The next key resistance can be $ 105,500. A close -up resistance of $ 105,500 can further send the price. In the declared case, the price could rise and the resistance level of $ 106,500 tests. More profits can send the price to the $ 108,000 level.
Another decline in BTC?
If Bitcoin does not rise above the $ 104,200 resistance zone, this can start a new correction in the short term. Immediate support on the disadvantage is close to the level of $ 103,200 and the 100 -hour simple advancing average. The first major support is near the level of $ 102,500.
The next support is now near the $ 101,500 zone. More losses can send the price in the short term to the support of $ 100,000. The most important support is $ 98,800, including BTC may get Bearish Momentum.
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 – $ 102,500, followed by $ 101,500.
Important resistance levels – $ 104,200 and $ 105,000.