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Bitcoin price started a new decrease and tested the $ 103,200 zone. BTC is now consolidating and can strive for a recovery wave above $ 106,000.
- Bitcoin started a new fall below $ 106,500 zone.
- The price is traded above $ 105,000 and the simple simple advancing average of 100 hours.
- There is a connecting Bearish trend line that forms with resistance to $ 105,550 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple can start a new increase if it knew the $ 106,000 resistance zone.
Bitcoin Price Eyes Op Head Pause
Bitcoin Price started a new decrease and traded under the $ 106,500 support zone. BTC even traded below the level of $ 105,500 and tested the following support at $ 103,200.
A low point was formed at $ 103,200 and the price is now losing consolidation. There was a movement above the level of $ 104,200 and the 23.6% FIB racement level of the recent decrease of the $ 110,500 swing high to $ 103,200 low.
Bitcoin is now traded above $ 105,000 and the 100 -hour simple advancing average. At the top is immediate resistance near the level of $ 105,550. There is also an important bearish trend line that forms with resistance to $ 105,550 on the hour table of the BTC/USD pair.
The first key resistance is near the level of $ 106,000. The next key resistance can be $ 106,800. It is close to the 50% FIB racement level of the recent fall of the $ 110,500 swing high to $ 103,200 low.
A close -up resistance of $ 106,800 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 108,000 tests. More profits can send the price to the $ 110,000 level.
Another drop in BTC?
If Bitcoin does not rise above the $ 106,000 resistance zone, this can start a new decline. Immediate support is close to the $ 105,000 level. The first major support is near the level of $ 104,200.
The next support is now near the $ 103,200 zone. More losses can send the price to the $ 102,500 in the short term. The most important support is $ 101,200, including BTC may get Bearish Momentum.
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 – $ 105,000, followed by $ 104,200.
Important resistance levels – $ 106,000 and $ 106,800.