Bitcoin price started a new upward movement above $ 100,000. BTC is confronted with resistance at $ 103,000 and can strive for an upward break.
- Bitcoin started a considerable upward movement above the $ 100,000 zone.
- The price is traded under $ 103,200 and the simple simple advancing average of 100 hours.
- There is an important bearish trend line that forms with resistance to $ 102,800 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple can start a new decline if it remains below $ 103,000 zone.
Bitcoin price has support
Bitcoin price started a new decrease under the levels of $ 103,000 and $ 102,500. BTC even dropped below the $ 100,000 level before the bulls appeared. A layer was formed at $ 97,688 and the price now corrects losses.
There was a movement above the levels of $ 99,800 and $ 100,500. The bulls pushed the price above the 50% FIB racement level of the downward wave of $ 107,080 Swing high to $ 97,688 low. De Beren, however, are active near the $ 103,000 zone.
There is also an important bearish trend line that forms with resistance to $ 102,800 on the hour table of the BTC/USD pair. Bitcoin price is now traded under $ 103,200 and the 100 simple advancing average per hour.
At the top is immediate resistance near the level of $ 102,500. The first key resistance is near the level of $ 103,000. The following key resistance can be $ 103,500 and the 61.8% FIB retracement level of the downward wave of the $ 107,080 Swing high to $ 97,688 low.
A close -up resistance of $ 103,500 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 105,000 tests. More profits can send the price to the $ 107,000 level.
Another decline in BTC?
If Bitcoin does not rise above the $ 103,000 resistance zone, this can start a new decline. Immediate support on the disadvantage is near the level of $ 101,200. The first major support is near the level of $ 100,500.
The next support is now near the $ 100,000 zone. More losses can send the price in the short term to the support of $ 88,800.
Technical indicators:
HORLY MACD – The MACD now loses pace in the bullish zone.
Picly RSI (relative strength -index) -The RSI for BTC/USD is now below the 50 -level level.
Important support levels – $ 101,200, followed by $ 100,500.
Important resistance levels – $ 102,500 and $ 103,000.