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Bitcoin price started a new increase above $ 108,000 zone. BTC now consolidates profits and can strive for a movement above $ 110,750
- Bitcoin started a new upward movement above $ 108,000 zone.
- The price is traded above $ 108,000 and the simple simple advancing average of 100 hours.
- There is a connecting bullish trend line that forms with support at $ 108,800 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple could get Bullish Momentum if it knew the resistance of $ 110,750.
Bitcoin -Price consolidates profits
Bitcoin Price found support near the $ 107,400 zone and recently started an upward correction. BTC traded above the resistance levels of $ 108,000 and $ 108,500.
The price was even above the $ 110,000 resistance zone. De Beren, however, were active near the level of $ 110,750. There was a disadvantage correction and the price that was traded below the $ 110,000 level. The price fell below the 50% FIB retraction level of the recent relocation of the $ 107,600 Swing low to $ 110,742 high.
Bitcoin is now traded above $ 108,000 and the 100 -hour simple advancing average. There is also a connecting bullish trend line that forms with support for $ 108,800 on the hour table of the BTC/USD pair.
At the top is immediate resistance near the level of $ 110,000. The first key resistance is near the level of $ 110,750. The next key resistance can be $ 111,800. A close -up resistance of $ 111,800 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 113,000 tests. More profits can send the price to the $ 115,000 level.
Another drop in BTC?
If Bitcoin does not rise above the $ 110,750 resistance zone, this can start a different correction. Immediate support is near the level of $ 108,500. The first major support is close to the $ 108,350 level and the FIB level of 76.4% of the recent step of $ 107,600 Swing low to $ 110,742 high.
The next support is now near the $ 107,850 zone. More losses can send the price to the support of $ 106,500 in the short term. The most important support is $ 105,000, including BTC may get bearish Momentum.
Technical indicators:
HORLY MACD – The MACD now loses pace in the bullish zone.
Picly RSI (relative strength -index) -The RSI for BTC/USD is now below the 50 -level level.
Important support levels – $ 108,500, followed by $ 107,500.
Large resistance levels – $ 110,000 and $ 110,750.