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Bitcoin price started a new fall below $ 86,000 zone. BTC now corrects losses and can struggle near the levels of $ 84,000 and $ 85,000.
- Bitcoin started a new fall below $ 85,000 zone.
- The price is under $ 84,000 and the simple simple advancing average of 100 hours.
- There was a break above an important bearish trend line with resistance at $ 82,000 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple can start a new decline if it did not know the $ 84,000 resistance zone.
Bitcoin -Price is reserved
Bitcoin price started a new fall below the level of $ 85,000. BTC traded under the support levels of $ 82,000 and $ 80,000. Finally, the price tested the $ 76,500 support zone.
A layer was formed at $ 76,818 and the price recently started a recovery wave. There was a movement above the resistance levels of $ 78,000 and $ 80,000. The bulls pushed the price above the 23.6% FIB racement level of the downward movement of the $ 91,060 Swing high to $ 76,818 low.
There was a break over an important bearish trend line with resistance at $ 82,000 on the hour table of the BTC/USD pair. Bitcoin price is now traded under $ 84,000 and the 100 simple advancing average of the 100 hours. At the top is immediate resistance near the level of $ 83,200. The first key resistance is near the level of $ 84,000.
The FIB racement level of 50% of the downward movement of the $ 91,060 Swing high to $ 76,818 Low is also near $ 84,000. The next key resistance can be $ 85,000.
A close -up resistance of $ 85,000 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 86,500 tests. More profits can send the price to the $ 88,000 level or even $ 96,200.
Another drop in BTC?
If Bitcoin does not rise above the $ 84,000 resistance zone, this can start a new decline. Immediate support on the disadvantage is near the level of $ 81,200. The first major support is near the level of $ 80,000.
The next support is now near the $ 78,000 zone. More losses can send the price to the support of $ 76,500 in the short term. The most important support is $ 75,000.
Technical indicators:
HORLY MACD – The MACD now loses pace in the bullish zone.
Picly RSI (Relative strength -Index) -The RSI for BTC/USD is now above 50 -level.
Important support levels – $ 81,000, followed by $ 80,000.
Important resistance levels – $ 84,000 and $ 85,000.