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Bitcoin price started a new increase above the $ 106,000 zone. BTC is now consolidating and can try to erase the $ 110,500 resistance.
- Bitcoin started a new upward movement above the $ 107,000 zone.
- The price is traded above $ 107,000 and the simple simple advancing average of 100 hours.
- There is a bullish trend line that forms with support for $ 106,850 on the hourly table of the BTC/USD pair (data specialty).
- The couple can start a new decline if it breaks the $ 105,000 support zone.
Bitcoin -Price wins tempo
Bitcoin price started a new increase after it was located above the $ 103,500 support zone. BTC was able to surpass the resistance levels of $ 104,400 and $ 105,000.
The bulls even pumped the price above the $ 108,000 resistance. A high was formed at $ 110,550 and the price is now consolidating profit above the 23.6% FIB retracement level of the upward movement of the $ 100,400 swing low to $ 110,550 high.
Bitcoin is now traded above $ 108,000 and the 100 -hour simple advancing average. There is also a bullish trend line that forms with support for $ 106,850 on the hour table of the BTC/USD pair.
At the top is immediate resistance near the level of $ 110,000. The first key resistance is near the level of $ 110,500. The next key resistance can be $ 112,500. A close -up resistance of $ 112,500 can further send the price. In the indicated case, the price could rise and the resistance level of $ 113,800 tests. More profits can send the price to the $ 115,000 level.
Another decline in BTC?
If Bitcoin does not rise above the $ 110,500 resistance zone, this can start a decrease. Immediate support is close to the level of $ 108,200. The first major support is close to the level of $ 106,500 and the trend line.
The next support is now near the $ 105,500 zone and the 50% FIB racement level of the upward movement of the $ 100,400 Swing Low to $ 110,550 High. More losses can send the price in the short term to the support of $ 103,500. The most important support is $ 102,000, including BTC may get Bearish Momentum.
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 – $ 108,000, followed by $ 106,500.
Large resistance levels – $ 110,500 and $ 112,500.