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Bitcoin Price started a new rise and was traded for a new of all time above $ 111,500 zone. BTC is now consolidating and can strive for an increase to $ 113,200
- Bitcoin started a new upward movement from the $ 108,000 zone.
- The price is traded above $ 108,000 and the simple simple advancing average of 100 hours.
- There is an important bullish trend line that forms with support for $ 110,000 on the hourly table of the BTC/USD pair (data daae from Kraken).
- The couple could get Bullish Momentum if it knew the $ 112,000 resistance.
Bitcoin -Price sets new ATH
Bitcoin price started a new increase compared to the $ 105,000 support zone. BTC formed a basis and was able to erase the $ 108,000 resistance zone. The bulls pushed the price above $ 110,000.
The bulls even pumped the price above the $ 111,500 resistance zone. The price that is traded for a new all-time in the neighborhood of $ 111,980 and currently consolidates profits above the 23.6% FIB racement level of the upward movement of the $ 104.270 Swing low to $ 111,980 high.
Bitcoin is now traded above $ 109,000 and the 100 -hour simple advancing average. There is also an important bullish trend line that forms with support for $ 110,000 on the hour table of the BTC/USD pair.
Moreover, immediate resistance is near the level of $ 112,000. The first key resistance is near the level of $ 112,500. The next key resistance can be $ 113,200. A close -up resistance of $ 113,200 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 115,000 tests. More profits can send the price to the $ 118,000 level.
Are dips supported in BTC?
If Bitcoin does not rise above the $ 112,000 resistance zone, this can start a new correction. Immediate support on the disadvantage is near the level of $ 110,000 and the trend line. The first major support is near the $ 108,200 level and the 50% FIB retracement level of the upward movement of the $ 104,270 Swing low to $ 111,980 high.
The next support is now near the $ 107,200 zone. More losses can send the price to $ 106,000 support in the short term. The most important support is $ 105,000, including BTC may get bearish Momentum.
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 – $ 110,000, followed by $ 108,200.
Large resistance levels – $ 112,000 and $ 113,200.