Bitcoin price extended losses after it was traded below $ 114,000. BTC now consolidates losses and can further fall to test the $ 110,500 support zone.
- Bitcoin started a new decline under the $ 114,000 zone.
- The price is under $ 114,000 and the simple simple advancing average of 100 hours.
- There is a bearish trend line that forms with resistance at $ 113,600 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple can start a different increase if it knew the $ 114,000 zone.
Bitcoin -Price starts with consolidation
Bitcoin price could not stay above $ 115,500 zone and started a new decline. BTC fell under the support levels of $ 115,000 and $ 114,000 to enter a bearish zone in the short term.
The decline was pace below the level of $ 113,500. A low point was formed at $ 111,557 and the price is now losing losing below the 23.6% FIB retracement level of the recent decrease of the $ 117,920 Swing high to $ 111,557 Low.
Bitcoin now acts under $ 113,200 and the 100 simple advancing average. By the way, there is a bearish trend line that forms with resistance at $ 113,600 on the hour table of the BTC/USD pair.
Immediate resistance at the top is near the level of $ 113,000. The first key resistance is near the level of $ 113,500 and the trend line. 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 $ 114,750 or the 50% FIB racement level of the recent decrease of the $ 117,920 Swing high to the low $ 111,557 tests. More profits can send the price to the level of $ 115,500. The next barrier for the Bulls can be $ 116,250.
Another decline in BTC?
If Bitcoin does not rise above the $ 114,000 resistance zone, this can start a new decline. Immediate support is near the level of $ 112,000. The first major support is near the level of $ 111,750.
The next support is now near the $ 110,500 zone. More losses can send the price to the support of $ 108,800 in the short term. The most important support is at $ 107,500, including BTC may get Bearish Momentum.
Technical indicators:
MACD per hour – The MACD now wins 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 – $ 112,000, followed by $ 111,750.
Large resistance levels – $ 113,600 and $ 114,000.