Bitcoin price shows positive signs above $ 115,000. BTC is now consolidating and can rise further if it knew the $ 116,500 resistance zone.
- Bitcoin started a new increase above $ 115,000 zone.
- The price was traded near $ 115,000 and the simple simple advancing average of 100 hours.
- There is a bearish trend line that forms with resistance at $ 116,000 on the hourly table of the BTC/USD pair (data daae from Kraken).
- The couple can start a different increase if it knew the $ 116,200 zone.
Bitcoin -prize has profits
Bitcoin price started a new upward wave above $ 112,500 zone. BTC managed to climb above the resistance levels of $ 113,500 and $ 114,200.
The bulls could push the price above $ 115,000 and $ 116,000. The price traded as high as $ 116,743 and recently started a consolidation phase. There was a small decline below $ 116,000. The price was even below the 23.6% FIB racement level of the recent relocation of the $ 110,815 Swing low to $ 116,743 High.
Bitcoin is now traded near $ 115,000 and the 100 -hour simple advancing average. In addition, there is a bearish trend line that forms with resistance at $ 116,000 on the hour table of the BTC/USD pair.
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 $ 116,750. A close -up resistance of $ 116,750 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 117,500 tests. More profits can send the price to the level of $ 118,500. The next barrier for the Bulls can be $ 118,800.
Another drop in BTC?
If Bitcoin does not rise above the $ 116,200 resistance zone, this can start a new decline. Immediate support is near the level of $ 114,900. The first major support is near the $ 113,750 level or the 50% FIB level of the recent relocation of the $ 110,815 Swing low to $ 116,743 high.
The next support is now near the $ 113,000 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 fall sharply.
Technical indicators:
HORLY MACD – The MACD now loses pace in the bullish zone.
Picly RSI (relative strength -index) -The RSI for BTC/USD is now below the 50 -level level.
Important support levels – $ 115,000, followed by $ 113,750.
Large resistance levels – $ 116,200 and $ 116,500.