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Bitcoin price started a new fall below $ 105,500 zone. BTC consolidates now and is struggling to stay above the support of $ 103,200.
- Bitcoin started a new decrease among the levels of $ 106,500 and $ 105,500.
- The price is traded under $ 106,500 and the simple simple advancing average of 100 hours.
- There is an important bearish trend line that forms with resistance to $ 106,600 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple could start a new recovery wave if it knew the $ 105,500 resistance zone.
Bitcoin -price drops sharply
Bitcoin price started a new decrease after it had not deleted the $ 110,500 resistance zone. BTC fell under the support levels of $ 107,500 and $ 106,500.
The price even fell below the support level of $ 104,200. Finally, it tested the $ 103,000 zone. A low point was formed at $ 103,078 and the price is now losing losing below the 23.6% FIB level of the recent decrease of the $ 110.273 Swing high to $ 103,078 low.
Bitcoin is now traded under $ 105,500 and the 100 simple advancing average per hour. There is also an important bearish trend line that forms with resistance to $ 106,600 on the hour table of the BTC/USD pair.
At the top is immediate resistance near the level of $ 104,200. The first key resistance is near the level of $ 105,500. The following key resistance can be $ 106,600 and the FIB retracement level of 50% of the recent decrease of $ 110.273 Swing high to $ 103,078 Low.
A close -up resistance of $ 106,600 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 108,000 tests. More profits can send the price to the $ 110,000 level.
More losses in BTC?
If Bitcoin does not rise above the $ 105,500 resistance zone, this can start a decrease. Immediate support is close to the level of $ 103,000. The first major support is near the level of $ 102,350.
The next support is now near the $ 101,500 zone. More losses can send the price to the support of $ 100,500 in the short term. The most important support is $ 100,000, including BTC a bearish Momentum.
Technical indicators:
MACD per hour – The MACD now wins pace in the bearish zone.
Picly RSI (relative strength -index) -The RSI for BTC/USD is now below the 50 -level level.
Important support levels – $ 103,000, followed by $ 102,350.
Large resistance levels – $ 104,200 and $ 105,500.