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Bitcoin price started a new fall below $ 83,500 zone. BTC is consolidating losses and can start a new decrease below the level of $ 80,000.
- Bitcoin started a new fall under the $ 82,000 zone.
- The price is traded under $ 81,200 and the simple simple advancing average of 100 hours.
- There was a break under a connecting bullish trend line with support for $ 83,000 on the hourly table of the BTC/USD pair (data specialty).
- The couple could start a different increase if it knew the $ 80,500 zone.
Bitcoin -Price Dips below Support
Bitcoin price could not settle above the level of $ 83,500 and started a new decrease. BTC traded under $ 83,000 AD $ 82,000 levels to enter a bearish zone.
There was a break under a connecting bullish trend line with support for $ 83,000 on the hour table of the BTC/USD pair. The pair even went under the $ 80,000 support zone. A low point was formed at $ 77,057 and the price started a recovery wave.
There was a movement above the level of $ 78,800. The price climbed above the 23.6% FIB racement level of the recent decrease of the $ 83,680 Swing high to $ 77,057 low. However, the price is struggling to stay higher.
Bitcoin price is now traded under $ 81,500 and the 100 simple advancing average per hour. At the top is immediate resistance near the level of $ 80,000. The first key resistance is near the $ 80,500 level or the 50% FIB retracement level of the recent decrease of the $ 83,680 Swing high to $ 77,057 low.
The next key resistance can be $ 81,500. A close -up resistance of $ 81,500 can further send the price. In the declared case, the price could rise and the resistance level of $ 82,500 tests. More profits can send the price to the level of $ 83,500.
Another decline in BTC?
If Bitcoin does not rise above the $ 80,500 resistance zone, this can start a new decline. Immediate support on the disadvantage is near the level of $ 77,500. The first major support is near the level of $ 77,000.
The next support is now near the $ 76,500 zone. More losses can send the price in the short term to the support of $ 75,000. The most important support is at $ 74,200.
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 – $ 77,500, followed by $ 77,000.
Important resistance levels – $ 80,000 and $ 80,500.