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Bitcoin price started a new increase above $ 108,000 zone. BTC is now consolidating and can start a new increase if it knew $ 110,750
- Bitcoin started a new upward movement above $ 107,500 zone.
- The price is traded above $ 108,500 and the simple simple advancing average of 100 hours.
- There is a connecting bullish trend line that forms with support at $ 109,200 on the hourly table of the BTC/USD pair (data specialty).
- The couple could get Bullish Momentum if it knew the resistance of $ 110,750.
Bitcoin -Price consolidates profits
Bitcoin Price found support near the $ 106,650 zone and recently started an upward correction. BTC traded above the resistance levels of $ 107,500 and $ 108,000.
There was a movement above the 50% FIB racement level of the recent decrease of the $ 111,982 Swing high to $ 106,672 low. The price was even above the $ 110,000 resistance zone. However, the bears were active near the level of $ 110,200.
The price could not settle above the 61.8% FIB racement level of the recent decrease of the $ 111,982 Swing high to $ 106,672 low. Bitcoin is now traded above $ 108,500 and the 100 -hour simple advancing average. There is also a connecting bullish trend line that forms with support for $ 109,200 on the hour table of the BTC/USD pair.
At the top is immediate resistance near the level of $ 110,000. The first key resistance is near the level of $ 110,750. The next key resistance can be $ 111,800. A close -up resistance of $ 111,800 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 113,000 tests. More profits can send the price to the $ 115,000 level.
Another decline in BTC?
If Bitcoin does not rise above the $ 110,000 resistance zone, this can start a different correction. Immediate support on the disadvantage is near the level of $ 109,200. The first major support is near the level of $ 108,500.
The next support is now near the $ 107,500 zone. More losses can send the price to the $ 106,200 support in the short term. The most important support is $ 105,000, including BTC may get bearish Momentum.
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 above 50 -level.
Important support levels – $ 108,500, followed by $ 107,500.
Large resistance levels – $ 110,000 and $ 110,750.