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Bitcoin Price started a new fall in the $ 90,000 zone. BTC is back below $ 82,500 and can go further than $ 78,000.
- Bitcoin started a new fall under the $ 82,000 zone.
- The price is traded under $ 80,000 and the 100 -hour simple advancing average.
- There is an important bearish trend line that forms with resistance at $ 82,200 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple can start a new decline if it did not know the $ 82,000 resistance zone.
Bitcoin price is confronted with obstacles
Bitcoin price started a new fall below the level of $ 85,000. BTC traded under the support levels of $ 83,000 and $ 80,000. Finally, the price tested the $ 76,500 support zone.
A low point was formed at $ 76,818 and the price recently started a consolidation phase. There was a movement above the resistance levels of $ 78,000 and $ 78,500. The bulls pushed the price to the 23.6% FIB retracement level of the downward movement of the $ 91,060 Swing high to $ 76,818 low.
Bitcoin Price is now traded under $ 80,000 and the 100 -hour simple advancing average. At the top is immediate resistance near the level of $ 80,200. The first key resistance is near the level of $ 82,000.
There is also an important bearish trend line that forms with resistance at $ 82,200 on the hour table of the BTC/USD pair. The next key resistance can be $ 84,000. It is near the 50% FIB retracement level of the downward movement of the $ 91,060 Swing high to $ 76,818 low.
A close -up resistance of $ 84,000 can further send the price. In the declared case, the price could rise and the resistance level of $ 85,500 tests. More profits can send the price to the $ 88,000 level or even $ 96,200.
Another drop in BTC?
If Bitcoin does not rise above the $ 82,000 resistance zone, this can start a new decline. Immediate support on the disadvantage is near the level of $ 77,200. The first major support is near the level of $ 76,500.
The next support is now near the $ 75,000 zone. More losses can send the price to $ 72,000 support in the short term. The most important support is at $ 70,000.
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 – $ 76,500, followed by $ 75,000.
Important resistance levels – $ 80,000 and $ 82,000.