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Bitcoin price rises again above $ 94,000 zone. BTC shows positive signs and can strive for a movement above the $ 95,500 resistance zone.
- Bitcoin remained supported above $ 92,500 zone.
- The price is traded above $ 94,000 and the simple simple advancing average of 100 hours.
- There is a connecting Bearish trend line that forms with resistance to $ 95,000 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple can start a new increase if it knew the $ 95,500 zone.
Bitcoin -Visor fresh rally
Bitcoin price started a short-term correction of the $ 95,250 resistance zone. BTC fell under the support levels of $ 95,000 and $ 94,500.
The bears pushed the price under the support of $ 93,500. However, the bulls were active near the support of $ 93,000. A low point was formed at $ 92,970 and the price started a new rise. There was a movement above the resistance levels of $ 93,500 and $ 93,800.
The price climbed above the 50% FIB retracement level of the downward movement of the $ 95,195 Swing high to $ 92,970 low. Bitcoin price is now traded above $ 94,000 and the 100 -hour simple advancing average.
The price is also above the 76.4% FIB racement level of the downward movement of the $ 95,195 Swing high to $ 92,970 low. At the top is immediate resistance near the level of $ 95,000. There is also a connecting Bearish trend line that forms with resistance at $ 95,000 on the hourly table of the BTC/USD pair.
The first key resistance is near the level of $ 95,250. The next key resistance can be $ 95,500. An end above the resistance of $ 95,500 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 96,500 tests. More profits can send the price to the $ 98,000 level.
Another decline in BTC?
If Bitcoin does not rise above the $ 95,500 resistance zone, this can start a new downward correction. Immediate support on the disadvantage is near the level of $ 94,200. The first major support is near the level of $ 93,500.
The next support is now near the $ 93,000 zone. More losses can send the price to the support of $ 92,500 in the short term. The most important support is at $ 91,200.
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 – $ 94,500, followed by $ 93,500.
Important resistance levels – $ 95,250 and $ 95,500.