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Bitcoin Price struggles to erase the $ 94,500 zone. BTC consolidates profits and can correct some profit to test the $ 91,200 support zone.
- Bitcoin started a considerable upward movement above the levels of $ 92,500 and $ 92,800.
- The price is traded above $ 92,000 and the simple simple advancing average of 100 hours.
- There is a connecting bullish trend line that forms with support at $ 93,100 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple can start a new increase if it knew the $ 94,500 zone.
Bitcoin -price is rejection
Bitcoin price remained stable above the level of $ 88,800 and started a new increase. BTC was able to climb above the resistance levels of $ 90,500 and $ 92,000.
The bulls could pump the price above the $ 93,500 resistance. It even climbed higher and restored the $ 94,500 resistance zone. The recent high was formed at $ 94,450 and the price started a consolidation phase. There was a small decrease below the 23.6% FIB racement level of the upward movement of the $ 91,711 Swing low to $ 94,450 high.
Bitcoin price is now traded above $ 92,800 and the 100 simple advancing average per hour. There is also a connecting bullish trend line that forms with support for $ 93,100 on the hour table of the BTC/USD pair.
At the top is immediate resistance near the level of $ 94,200. The first key resistance is near the level of $ 94,500. The next key resistance can be $ 94,650. A close -up resistance of $ 94,650 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 95,500 tests. More profits can send the price to the level of $ 96,200.
Disadvantage correction in BTC?
If Bitcoin does not rise above the $ 94,200 resistance zone, this can start a downward correction. Immediate support on the disadvantage is near the level of $ 93,100 and the trend line. The first major support is near the $ 92,750 level and the 61.8% FIB retracement level of the upward movement of the $ 91,711 Swing low to $ 94,450 high.
The next support is now near the $ 91,700 zone. More losses can send the price in the short term to the support of $ 90,500. The most important support is at $ 90,000.
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 – $ 93,100, followed by $ 92,750.
Important resistance levels – $ 94,450 and $ 94,650.