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Bitcoin Price is struggling to erase the $ 100,000 resistance zone. BTC moves lower again and can fall to the support of $ 95,000.
- Bitcoin started a new decrease of the $ 98,500 zone.
- The price is traded under $ 97,000 and the simple simple advancing average of 100 hours.
- There was a break under a large bullish trend line with support at $ 97,500 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple can start a different increase if it remains above $ 96,000 zone.
Bitcoin -price is falling again
Bitcoin price remained in a range above the support level of $ 95,000. BTC started a considerable increase above the level of $ 97,000, but it could not delete the $ 98,800 resistance zone.
A high was formed at $ 98,826 and the price is now lower. There was a movement among the support levels of $ 97,000 and $ 96,500. The price fell below the 50% FIB racement level of the upward movement of the $ 95.352 Swing low to $ 98,826 high.
There was also a break under a large bullish trend line with support for $ 97,500 on the hour table of the BTC/USD pair. 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 $ 96,800. The first key resistance is near the level of $ 97,000. The next key resistance can be $ 98,000. A close -up resistance of $ 98,000 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 98,800 tests. More profits can send the price to the $ 100,000 level or even $ 100,500.
More losses 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 close to the $ 96,150 level or the 76.4% FIB retracement level of the upward movement of the $ 95.352 Swing low to $ 98,826 High. The first major support is near the level of $ 95,500.
The next support is now near the $ 95,000 zone. More losses can send the price to the support of $ 93,500 in the short term. The most important support is at $ 92,200.
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 – $ 96,000, followed by $ 95,000.
Important resistance levels – $ 97,000 and $ 98,000.