Bitcoin price could not extend the profit higher than $ 117,750. BTC is now moving lower and can even test the $ 113,200 support zone.
- Bitcoin started a new decrease below $ 115,500 zone.
- The price is traded under $ 115,500 and the simple simple advancing average of 100 hours.
- There is a connecting Bearish trend line that forms with resistance at $ 115,200 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple can start a different increase if it knew the $ 116,000 zone.
Bitcoin -price is falling again
Bitcoin price started a new upward wave above $ 116,500 zone. BTC managed to climb above the resistance levels of $ 116,800 and $ 117,500 before the bears appeared.
A high was formed at $ 117,920 and the price started a new decrease. There was a movement under the levels of $ 116,500 and $ 115,500. The decline was pace below the level of $ 115,000. A low point was formed at $ 114.237 and the price is now losses below the 23.6% FIB retracement level of the recent decrease of the $ 117,920 Swing high to $ 114,237 low.
Bitcoin is now traded under $ 115,500 and the 100 simple advancing average per hour. By the way, there is a bearish trend line that forms with resistance at $ 115,200 on the hour table of the BTC/USD pair.
Immediate resistance at the top is near the level of $ 115,000. The first key resistance is near the level of $ 115,250. The next resistance can be $ 116,000 or the FIB racement level of 50% of the recent decrease of the $ 117,920 Swing high to $ 114,237 low.
A close -up resistance of $ 116,000 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 116,500 tests. More profits can send the price to the level of $ 116,800. The next barrier for the Bulls can be $ 117,250.
More losses in BTC?
If Bitcoin does not rise above the $ 116,000 resistance zone, this can start a new decline. Immediate support is near the level of $ 114,250. The first major support is near the level of $ 113,500.
The next support is now near the $ 113,250 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 can decrease heavily.
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 – $ 114,250, followed by $ 113,250.
Important resistance levels – $ 115,000 and $ 116,000.