Bitcoin Price started a sharp rise and traded above $ 126,000. BTC now consolidates profits and can strive for more profit in the short term.
- Bitcoin started a large increase above the $ 125,000 zone.
- The price is traded above $ 124,000 and the simple simple advancing average of 100 hours.
- There is a bullish trend line in the short term that forms with support at $ 124,200 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple can continue to rise if it knew the $ 125,500 zone.
Bitcoin -Price sets new ATH
Bitcoin Price succeeded in staying over $ 122,000 zone and started a new increase. BTC settled above the $ 123,500 resistance zone to start the current movement.
The bulls could pump the price above the $ 125,000 and $ 125,500 pumps. They even erased the level of $ 126,000. A new high was formed at $ 126,198 before there was a small withdrawal. The price traded under the 23.6% FIB racement level of the recent wave of $ 122,230 Swing low to the $ 126.198 high.
Bitcoin is now traded above $ 124,000 and the 100 -hour simple advancing average. By the way, there is a bullish trend line in the short term that forms with support for $ 124,200 on the hour table of the BTC/USD pair.
Immediate resistance at the top is near the level of $ 125,250. The first key resistance is near the level of $ 125,500. The next resistance can be $ 126,200. A close -up resistance of $ 126,200 can further send the price. In the indicated case, the price could rise and the resistance of $ 126,500 tests. More profits can send the price to the $ 128,000 level. The next barrier for the Bulls can be $ 130,000.
Disadvantage correction in BTC?
If Bitcoin does not rise above the $ 125,500 resistance zone, this can start a new decline. Immediate support is near the level of $ 124,200 and the trend line. The first major support is near the $ 123,250 level or the 76.4% FIB retracement level of the recent wave of $ 122,230 Swing Low to the $ 126.198 High.
The next support is now near the $ 122,500 zone. More losses can send the price to $ 121,200 in the short term. The most important support is $ 120,500, including BTC may have difficulty recovering in the short term.
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 – $ 124,200, followed by $ 123,250.
Large resistance levels – $ 125,500 and $ 126,500.