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Bitcoin price started a new decrease under the support of $ 85,000. BTC must remain above the $ 80,000 zone to prevent more losses in the short term.
- Bitcoin started a new fall of the $ 86,500 zone.
- The price is traded under $ 82,500 and the simple simple advancing average per hour.
- There is a connecting Bearish trend line that forms with resistance at $ 83,800 on the hourly table of the BTC/USD pair (data specialty).
- The couple can start a new decline if it does not remain above the $ 85,000 zone.
Bitcoin -price drops sharply
Bitcoin price could not stay above the level of $ 88,500 and started a new decrease. BTC fell heavily under the support levels of $ 86,500 and $ 85,000.
The price even went below the $ 82,000 level. It tested the $ 80,000 zone. A low point was formed at $ 80,000 and the price now consolidates losses. It shows a lot of bearish signs under the 23.6% FIB retracement level of the downward wave of $ 86,934 Swing high to $ 80,000 low.
Bitcoin price is now traded under $ 82,200 and the 100 simple advancing average per hour. At the top is immediate resistance near the level of $ 81,650. The first key resistance is near the $ 83,500 level or the 50% FIB retracement level of the downward wave of the $ 86,934 Swing high to $ 80,000 low.
There is also a connecting Bearish trend line that forms with resistance at $ 83,800 on the hour table of the BTC/USD pair. The next key resistance can be $ 85,000. A close -up resistance of $ 85,000 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 86,500 tests. More profits can send the price to the level of $ 88,000 or even $ 88,500.
More losses in BTC?
If Bitcoin does not rise above the $ 85,000 resistance zone, this can start a new decline. Immediate support on the disadvantage is close to the $ 80,000 level. The first major support is near the level of $ 78,500.
The next support is now near the $ 76,200 zone. More losses can send the price in the short term to the support of $ 75,000. The most important support is at $ 73,500.
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 level of 50.
Important support levels – $ 80,000, followed by $ 78,500.
Large resistance levels – $ 83,800 and $ 85,000.