Bitcoin Price tries to recover from $ 112,000. BTC is back above $ 113,200, but is confronted with many obstacles on its way to $ 118,000.
- Bitcoin started a recovery wave above $ 112,500 zone.
- The price is traded under $ 115,000 and the simple simple advancing average of 100 hours.
- There is an important bearish trend line that forms with resistance at $ 113,500 on the hour table of the BTC/USD pair (data specialty).
- The couple can start a different increase if it knew the $ 115,000 resistance zone.
Bitcoin -Price is reserved
Bitcoin price started a new decrease after an end below the level of $ 115,000. BTC received Beerarish Momentum and traded under $ 113,200 support zone.
There was a movement below $ 112,500 support zone and the 100 simple advancing average. The couple tested the $ 112,000 zone. A low point was formed at $ 112,100 and the price is now trying to restore to the 23.6% FIB racement level of the recent decrease of the $ 124,420 Swing high to $ 112,100 low.
Bitcoin is now traded under $ 114,000 and the 100 -hour simple advancing average. Immediate resistance at the top is near the level of $ 113,500. There is also an important bearish trend line that forms with resistance at $ 113,500 on the hour table of the BTC/USD pair.
The first key resistance is near the level of $ 114,500. The next resistance can be $ 115,000. An end above the $ 115,000 resistance can further send the price. In the case mentioned, the price could rise and the resistance level of $ 116,500 tests. More profits can send the price to the level of $ 118,200. It is close to the 50% FIB racement level of the recent decrease of $ 124,420 Swing high to $ 112,100 low. The main goal can be $ 120,000.
More disadvantage in BTC?
If Bitcoin does not rise above the $ 114,500 resistance zone, this can start a new decline. Immediate support is close to the level of $ 112,500. The first major support is near the level of $ 112,000.
The next support is now near the $ 110,500 zone. More losses can send the price to the support of $ 108,250 in the short term. The most important support is at $ 105,500, including BTC can take a big hit.
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 above 50 -level.
Important support levels – $ 112,500, followed by $ 112,000.
Important resistance levels – $ 113,500 and $ 115,000.