Bitcoin price shows Beerarish signs below $ 113,000. BTC is struggling to recover and can start a new fall below $ 110,500 zone.
- Bitcoin started a recovery wave from the $ 108,750 zone.
- The price is traded under $ 112,500 and the simple simple advancing average of 100 hours.
- There was a break over an important Bearish trend line with resistance at $ 111,350 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple can start a different increase if it knew the $ 113,000 resistance zone.
Bitcoin -Retry attempts a new increase
Bitcoin price extended losses after closing below the level of $ 112,000. BTC received Beerarish Momentum and traded under $ 111,500 support zone.
There was a movement below $ 110,500 support zone and the 100 simple advancing average. The pair tested the $ 108,750 zone. A low point was formed at $ 108,734 and the price recently started a recovery wave. There was a movement above the level of $ 112,000.
The price exceeded the 23.6% FIB retracement level of the key decrease of the $ 117,354 Swing high to $ 110,734 low. Moreover, there was a break over an important bearish trend line with resistance at $ 111,350 on the hour table of the BTC/USD pair.
Bitcoin now trades under $ 112,500 and the 100 simple advancing average per hour. Immediate resistance at the top is near the level of $ 112,500. The first key resistance is near the $ 113,000 level or the FIB retracement level of 50% of the key decrease of the $ 117,354 Swing High to $ 110,734 Low. The next resistance can be $ 114,000.
A close -up resistance of $ 114,000 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 115,000 tests. More profits can send the price to the level of $ 115,500. The main objective can be $ 116,500.
Another decline in BTC?
If Bitcoin does not rise above the $ 113,000 resistance zone, this can start a new decline. Immediate support is near the level of $ 110,600. The first major support is near the level of $ 109,500.
The next support is now near the $ 108,750 zone. More losses can send the price in the short term to the support of $ 107,100. The most important support is $ 105,500, including BTC lower.
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 – $ 110,600, followed by $ 109,500.
Important resistance levels – $ 112,500 and $ 113,000.