Bitcoin -price shows Beerarish signs under $ 113,500. BTC is struggling to recover and can be confronted with obstacles near the $ 113,000 zone.
- Bitcoin started a new fall below $ 111,400 zone.
- The price is traded under $ 111,500 and the simple simple advancing average of 100 hours.
- There is an important bearish trend line that forms with resistance at $ 111,550 on the hour table of the BTC/USD pair (data specialty).
- The couple can start another increase if it knew the $ 112,500 resistance zone.
Bitcoin -Price tries recovery
Bitcoin price started a new decrease after an end below the level of $ 112,500. BTC received Beerarish Momentum and traded under the $ 112,000 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 $ 111,200.
The price exceeded the 23.6% FIB retraction level of the recent decrease of the $ 117,354 Swing high to $ 110,692 low. Bitcoin now trades under $ 111,500 and the 100 simple advancing average per hour.
Immediate resistance at the top is near the level of $ 111,500. There is also an important bearish trend line that forms with resistance at $ 111,550 on the hour table of the BTC/USD pair. The first key resistance is near the level of $ 112,000. The next resistance can be $ 113,000 or the FIB racement level of 50% of the recent decrease of $ 117,354 Swing High to $ 110,692 Low.
A close -up resistance of $ 113,000 can further send the price. In the indicated case, the price could rise and the resistance level of $ 114,200 tests. More profits can send the price to the level of $ 115,500. The main objective can be $ 116,500.
Another drop in BTC?
If Bitcoin does not rise above the $ 111,550 resistance zone, this can start a new decline. Immediate support is close to the level of $ 110,500. The first major support is near the level of $ 109,200.
The next support is now near the $ 108,500 zone. More losses can send the price to the support of $ 106,500 in the short term. 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 – $ 108,500, followed by $ 106,500.
Important resistance levels – $ 111,500 and $ 113,000.