Bitcoin Price started a recovery wave and traded above $ 114,000. BTC acts above $ 114,000 and is confronted with obstacles near $ 115,000.
- Bitcoin started a new wave of recovery above $ 113,500 zone.
- The price is traded above $ 114,000 and the simple simple advancing average of 100 hours.
- There was a break over an important bearish trend line with resistance at $ 112,200 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple can continue to go up if it knew the $ 115,000 zone.
Bitcoin -Price is gaining grip
Bitcoin Price succeeded in staying above $ 110,500 zone and started a recovery wave. BTC settled above the $ 112,500 resistance zone to start the current move.
The Bulls could pump the price above the levels of $ 113,500 and $ 114,000. By the way, there was a break over an important bearish trend line with resistance at $ 112,200 on the hour table of the BTC/USD pair. The bulls even erased the level of $ 114,000.
A high was formed at $ 114,771 and the price is now the profits above the 23.6% FIB retracement level of the upward movement of the $ 108,677 Swing Low to the $ 114,771 High. Bitcoin is now traded above $ 114,000 and the 100 simple advancing average.
Immediate resistance at the top is near the level of $ 114,750. The first key resistance is near the level of $ 115,000. 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 of $ 116,500 tests. More profits can send the price to the level of $ 117,500. The next barrier for the Bulls can be $ 118.00.
Another drop 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 $ 113,500. The first major support is near the level of $ 112,500.
The next support is now near the $ 111,750 zone. More losses can send the price to the $ 111,200 support in the short term. The most important support is $ 110,500, 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 – $ 113,500, followed by $ 112,500.
Large resistance levels – $ 114,750 and $ 115,000.