Bitcoin price wins pace below $ 115,500. BTC still shows Beerarish and continues to run the risk of more losses under the $ 112,000 zone.
- Bitcoin started a new decrease under $ 116,500 zone.
- The price is traded under $ 115,500 and the simple simple advancing average of 100 hours.
- There is an important bearish trend line that forms with resistance at $ 115,400 on the hourly table of the BTC/USD pair (data specialty).
- The couple can start a different increase if it knew the $ 115,500 resistance zone.
Bitcoin -price drops further
Bitcoin price started a new decrease after an end below the level of $ 118,000. BTC received Beerarish Momentum and traded under $ 116,500 support zone.
There was a movement below $ 115,500 support zone and the 100 simple advancing average. The pair tested the $ 112,500 zone. A layer was formed at $ 112,610 and the price is now consolidated below the 23.6% FIB retracement level of the recent decrease of the $ 124,420 Swing high to $ 112,610 low.
Bitcoin is now traded under $ 116,000 and the 100 -hour simple advancing average. Immediate resistance at the top is near the level of $ 114,200. The first key resistance is near the level of $ 115,000. There is also an important bearish trend line that forms with resistance to $ 115,400 on the hour table of the BTC/USD pair.
The next resistance can be $ 115,500. A close -up resistance of $ 115,500 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 118,500 tests. It is close to the 50% FIB racement level of the recent decrease of the $ 124,420 Swing high to $ 112,610 low. More profits can send the price to the $ 120,000 level. The main objective can be $ 121,500.
More losses in BTC?
If Bitcoin does not rise above the $ 115,000 resistance zone, this can start a new decline. Immediate support is close to the level of $ 112,500. The first major support is near the level of $ 112,000.
The next support is now near the $ 110,500 zone. More losses can send the price to $ 110,000 support in the short term. The most important support is at $ 108,000, including BTC can take a big hit.
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 – $ 112,500, followed by $ 110,500.
Important resistance levels – $ 115,000 and $ 115,500.