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Bitcoin price consolidates above the $ 95,000 support zone. BTC is struggling and can increase losses if it remains below $ 100,000.
- Bitcoin started a new decrease in the $ 98,500 resistance zone.
- The price is traded under $ 96,500 and the simple simple advancing average of 100 hours.
- There was a break under a connecting bullish trend line with support at $ 96,670 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple can start a new increase if it knew the $ 97,600 zone.
Bitcoin -price is falling again
Bitcoin price cannot be higher above the $ 100,000 zone. It started a decline below $ 96,500 zone. BTC received a bearish Momentum for a movement below $ 96,000 and $ 95,500 levels.
There was a break under a connecting bullish trend line with support for $ 96,670 on the hour table of the BTC/USD pair. The price tested the $ 95,000 zone and recently recovered some losses. There was a movement above the level of $ 95,750.
The price exceeded the 23.6% FIB retracement level of the downward movement of the $ 98,442 Swing high to $ 94,899 Low. Bitcoin price is now traded under $ 96,500 and the 100 simple advancing average per hour.
At the top is immediate resistance near the level of $ 96,650. The first key resistance is near the level of $ 97,000. The following key resistance can be $ 97,600 or the FIB racement level of 76.4% of the downward movement of the $ 98,442 Swing high to $ 94,899 Low.
A close -up resistance of $ 97,600 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 98,500 tests. More profits can send the price to the $ 100,000 level.
Another decline in BTC?
If Bitcoin does not rise above the $ 97,000 resistance zone, this can start a new decline. Immediate support on the disadvantage is near the level of $ 95,500. The first major support is near the level of $ 95,000.
The next support is now near the $ 93,500 zone. More losses can send the price in the short term to the support of $ 92,000. The most important support is $ 91,000.
Technical indicators:
HORLY MACD – The MACD now loses pace in the bullish zone.
Picly RSI (relative strength -index) -The RSI for BTC/USD is now below the 50 -level level.
Important support levels – $ 95,500, followed by $ 95,000.
Important resistance levels – $ 97,000 and $ 98,000.
