Bitcoin price extended losses after it was traded under $ 112,500. BTC now consolidates losses and can re -decrease to test the $ 108,500 support zone.
- Bitcoin started a new fall below $ 112,500 zone.
- The price is traded under $ 111,500 and the simple simple advancing average of 100 hours.
- There are two bearish trend lines that form with resistance of $ 110,500 and $ 113,000 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple can stay down if it remains under the $ 113,000 zone.
Bitcoin -price drops further
Bitcoin price could not start a recovery wave and remained under $ 114,000. BTC fell under the support levels of $ 112,500 and $ 112,000 to continue to a Bearish zone.
The decline was pace below the level of $ 111,500. A low point was formed at $ 108,680 and the price is now losing consolidation. There was a small step in the direction of the 23.6% FIB racement level of the recent decrease of the $ 113,939 Swing high to $ 108,680 low.
Bitcoin now trades under $ 112,500 and the 100 simple advancing average per hour. In addition, there are two bearish trend lines that form with resistance of $ 110,500 and $ 113,000 on the hour table of the BTC/USD pair.
Immediate resistance at the top is near the level of $ 109,920. The first key resistance is near the level of $ 110,500 and the trend line. The next resistance can be $ 111,300 or the FIB racement level of 50% of the recent decrease of the $ 113,939 Swing High to $ 108,680 Low.
A close -up resistance of $ 111,300 can further send the price. In the declared case, the price could rise and the resistance of $ 112,500 tests. More profits can send the price to the $ 113,000 level. The next barrier for the Bulls can be $ 114,500.
Another decline in BTC?
If Bitcoin does not rise above the $ 110,500 resistance zone, this can start a new decline. Immediate support is close to the level of $ 108,800. The first major support is near the level of $ 108,200.
The next support is now near the $ 107,500 zone. All losses can send the price in the short term to the support of $ 106,400. The most important support is $ 105,500, including BTC may have difficulty recovering in the short term.
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 – $ 108,800, followed by $ 108,200.
Important resistance levels – $ 110,500 and $ 113,000.