Bitcoin price started a new increase above $ 110,500 zone. BTC is now more than 5%higher, traded to a new high and extends the profits above the $ 116,000 level.
- Bitcoin started a new increase above $ 112,500 zone.
- The price is traded above $ 113,500 and the simple simple advancing average of 100 hours.
- There was a break over a Bearish trend line with resistance at $ 111,000 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple could continue to rise if it knew the $ 116,800 resistance zone.
Bitcoin -Price sets new ATH
Bitcoin price started a new increase after it had erased the $ 110,500 resistance zone. BTC got pace for a movement above the resistance of $ 112,000 and $ 113,500.
In addition, there was a break over a bearish trend line with resistance at $ 111,000 on the hour table of the BTC/USD pair. The bulls even pumped the pair above the $ 115,000 resistance zone. A new of all time was formed at $ 116,800 and the price is now consolidating profit above the 23.6% FIB racement level of the upward movement of the $ 110,600 Swing low to $ 116,800 high.
Bitcoin now acts above $ 113,500 and the 100 simple advancing average. Immediate resistance at the top is near the level of $ 116,000. The first key resistance is near the level of $ 116,200. The next resistance can be $ 116,800.
A close -up resistance of $ 116,800 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 118,000 tests. More profits can send the price to the level of $ 118,800. The main objective can be $ 120,000.
Disadvantage correction in BTC?
If Bitcoin does not rise above the $ 116,800 resistance zone, this can start a downward correction. Immediate support is close to the level of $ 115,300. The first major support is near the $ 113,700 level or the 50% FIB retracement level of the upward movement of the $ 110,600 Swing Low to $ 116,800 high.
The next support is now near the $ 113,200 zone. More losses can send the price in the short term to the support of $ 112,500. The most important support is $ 110,500, including BTC could stay down.
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 – $ 115,300, followed by $ 113,700.
Large resistance levels – $ 116,800 and $ 118,000.