Bitcoin price tries to recover from $ 110,650. BTC is back above $ 112,200, but is confronted with many obstacles on its way to $ 115,000.
- Bitcoin started a recovery wave above $ 112,000 zone.
- The price is under $ 114,000 and the simple simple advancing average of 100 hours.
- There is an important bearish trend line that forms with resistance at $ 114,000 on the hourly table of the BTC/USD pair (data specialty).
- The couple can start a different increase if it knew the $ 114,500 resistance zone.
Bitcoin -price is falling again
Bitcoin price started a new decrease after an end below the level of $ 114,500. BTC received Beerarish Momentum and traded under $ 113,200 support zone.
There was a movement under the $ 112,000 support zone and the 100 simple advancing average per hour. The pair tested the $ 110,6500 zone. A low point was formed at $ 110,692 and the price is now trying to restore. It climbed above the 23.6% FIB retracement level of the recent decrease of the $ 117.354 Swing high to $ 110,692 low.
Bitcoin is now traded under $ 114,000 and the 100 -hour simple advancing average. Immediate resistance at the top is near the level of $ 113,600. The first key resistance is near the level of $ 114,000. There is also an important bearish trend line that forms with resistance at $ 114,000 on the hour table of the BTC/USD pair.
The next resistance can be $ 114,800 or the FIB racement level of 61.8% of the recent decrease of the $ 117,354 Swing High to $ 110,692 Low. An end above the resistance of $ 114,800 can further send the price.
In the case mentioned, the price could rise and the resistance level of $ 115,500 tests. More profits can send the price to the level of $ 115,500. The main objective can be $ 116,500.
Another decline in BTC?
If Bitcoin does not rise above the $ 114,000 resistance zone, this can start a new decline. Immediate support is close to the level of $ 112,500. The first major support is near the level of $ 112,200.
The next support is now near the $ 111,500 zone. All losses can send the price in the short term to the support of $ 110,650. The most important support is $ 108,500, including BTC could take a big hit.
Technical indicators:
MACD per hour – the MACD now loses 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 – $ 112,200, followed by $ 112,000.
Large resistance levels – $ 113,500 and $ 114,000.