Bitcoin price started a new increase above $ 116,500 zone. BTC is now more than 2%higher, traded to a new high and can extend the profits above the $ 122,000 level.
- Bitcoin started a new increase above $ 118,500 zone.
- The price is traded above $ 118,500 and the 100 -hour simple advancing average.
- There is a bullish trend line that forms with support for $ 119,000 on the hourly table of the BTC/USD pair (data specialty).
- The couple could continue to rise if it knew the $ 122,000 resistance zone.
Bitcoin -Price sets new ATH
Bitcoin price started a new increase after it had erased the $ 115,500 resistance zone. BTC got pace for a movement above the resistance of $ 116,000 and $ 118,500.
The bulls even pumped the pair above the $ 120,000 resistance zone. A new of all time was formed at $ 122,550 and the price is now consolidating profit above the 23.6% FIB racement level of the upward movement of the $ 116,679 Swing low to $ 122,550 high.
Bitcoin is now traded above $ 120,000 and the 100 -hour simple advancing average. There is also a bullish trend line that forms with support for $ 119,000 on the hour table of the BTC/USD pair.
Immediate resistance at the top is near the level of $ 122,550. The first key resistance is near the level of $ 1123,500. The next resistance can be $ 124,000.
A close -up resistance of $ 124,000 can further send the price higher. In the indicated case, the price could rise and the resistance level of $ 128,000 tests. More profits can send the price to the level of $ 128,800. The main goal can be $ 130,000.
Disadvantage correction in BTC?
If Bitcoin does not rise above the $ 122,500 resistance zone, this can start a downward correction. Immediate support is near the level of $ 121,500. The first major support is near the $ 119,500 level or the 50% FIB retracement level of the upward movement of the $ 116,679 Swing Low to $ 122,550 High.
The next support is now near the $ 119,000 zone. More losses can send the price in the short term to the support of $ 118,500. The most important support is $ 116,500, including BTC could stay down.
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 – $ 122,500, followed by $ 125,000.
Important resistance levels – $ 121,500 and $ 119,000.