Bitcoin price consolidates above the $ 95,000 support zone. BTC struggles and can continue to slide unless there is an end above $ 98,800.
- Bitcoin started a new decrease below the level of $ 98,000.
- The price acts under $ 98,000 and the simple simple advancing average of 100 hours.
- There is a connecting Bearish trend line that forms with resistance at $ 98,200 on the hourly table of the BTC/USD pair (data specialty).
- The couple can start a new increase if it knew the $ 98,000 zone.
Bitcoin price has support
Bitcoin price cannot be higher above the $ 100,500 zone. It started a decline below $ 98,500 zone. BTC received a bearish Momentum for a movement under the levels of $ 98,000 and $ 96,000.
There was a movement below the 50% FIB racement level of the upward movement of the $ 91,000 swing low to $ 102,500 high. The price was even below the support level of $ 95,500 and settled below the 100 -hour simple advancing average.
It tested the 61.8% FIB racement level of the upward movement of the $ 91,000 swing low to $ 102,500 high. Bitcoin Price is now traded under $ 98,000 and the 100 simple advancing average per hour.
At the top is immediate resistance near the level of $ 96,750. The first key resistance is near the $ 98,000 level. There is also a connecting Bearish trend line that forms with resistance at $ 98,200 on the hour table of the BTC/USD pair.
The next key resistance can be $ 100,000. A close -up resistance of $ 100,000 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 101,200 tests. More profits can send the price to the level of $ 102,500.
More losses in BTC?
If Bitcoin does not rise above the $ 98,000 resistance zone, this can start a new decline. Immediate support on the disadvantage is close to the $ 96,000 level. The first major support is near the level of $ 95,500.
The next support is now near the $ 93,700 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:
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 – $ 96,200, followed by $ 95,500.
Important resistance levels – $ 98,000 and $ 100,000.
