Bitcoin price started a new upward movement above $ 98,000 zone. BTC jerks out losses, but may have difficulty setting itself above the $ 103,000 zone.
- Bitcoin started a new upward movement above the level of $ 100,000.
- The price is traded above $ 99,500 and the simple simple advancing average of 100 hours.
- There was a break over an important bearish trend line with resistance at $ 96,000 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple can start a new increase if it remains above $ 100,000 zone.
Bitcoin -price recovers $ 100,000
Bitcoin Price started another fall under the $ 95,000 zone. BTC received Beerarish Momentum for a movement below $ 93,500 and $ 92,000 levels. It even went under $ 91,000.
A low point was formed at $ 90,944 and the price recently started a decent wave. There was a movement above the level of $ 95,500. The price knew the 50% FIB racement level of the downward movement of the $ 106,000 Swing high to $ 90,945 Low.
Moreover, there was a break over an important bearish trend line with resistance at $ 96,000 on the hourly table of the BTC/USD pair. Bitcoin price is now traded above $ 98,000 and the 100 simple advancing average per hour.
At the top is immediate resistance near the level of $ 102,000. The first key resistance is near the $ 102,500 level or the 76.4% FIB retracement level of the downward movement of the $ 106,000 Swing high to $ 90,945 Low. The next key resistance can be $ 103,200.
A close -up resistance of $ 103,200 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 105,000 tests. More profits can send the price to the $ 107,000 level.
Another decline in BTC?
If Bitcoin does not rise above the $ 103,200 resistance zone, this can start a new decline. Immediate support on the disadvantage is near the level of $ 100,500. The first major support is near the level of $ 100,000.
The next support is now near the $ 98,000 zone. More losses can send the price to the support of $ 96,500 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 – $ 100,500, followed by $ 100,000.
Large resistance levels – $ 102,000 and $ 103,200.