Bitcoin price shows positive signs above $ 114,500. BTC is now consolidating and can rise further if it knew the $ 116,200 resistance zone.
- Bitcoin started a new increase above the $ 114,200 zone.
- The price is traded under $ 115,000 and the simple simple advancing average of 100 hours.
- There is a bullish trend line that forms with support for $ 115,000 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple can start a different increase if it knew the $ 116,200 zone.
Bitcoin -Price is gaining grip
Bitcoin price started a new recovery wave of the $ 111,200 zone. BTC managed to climb above the resistance levels of $ 112,500 and $ 113,500.
The bulls could push the price above $ 114,000 and $ 115,000. The price traded as high as $ 116,298 and recently started a consolidation phase. There was a small decrease below $ 115,800, but the price is still above the 23.6% FIB racement level of the recent step of $ 110,815 Swing low to $ 116,298 high.
Bitcoin is now traded above $ 114,500 and the 100 -hour simple advancing average. In addition, there is a bullish trend line that forms with support for $ 115,000 on the hour table of the BTC/USD pair.
Immediate resistance at the top is near the level of $ 116,000. The first key resistance is near the level of $ 116,200. The next resistance can be $ 116,800. A close -up resistance of $ 116,800 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 117,500 tests. More profits can send the price to the level of $ 118,400. The next barrier for the Bulls can be $ 118,800.
Another decline in BTC?
If Bitcoin does not rise above the $ 116,200 resistance zone, this can start a new decline. Immediate support is close to the level of $ 115,000 and the trend line zone. The first major support is near the $ 113,550 level or the 50% FIB retracement level of the recent step of $ 110,815 Swing Low to the $ 116,298 High.
The next support is now near the $ 113,000 zone. More losses can send the price in the short term to the support of $ 112,500. The most important support is $ 110,500, including BTC could fall sharply.
Technical indicators:
MACD per hour – The MACD now wins pace in the bullish zone.
Picly RSI (Relative strength -Index) -The RSI for BTC/USD is now above 50 -level.
Important support levels – $ 115,000, followed by $ 113,500.
Important resistance levels – $ 116,000 and $ 116,200.