Bitcoin price rises again above $ 115,500 zone. BTC is now consolidating and can strive for a movement to the $ 120,000 resistance zone.
- Bitcoin started a new increase above $ 115,500 zone.
- The price is traded above $ 115,500 and the 100 -hour simple advancing average.
- There is an important bullish trend line that forms with support at $ 115,600 on the hourly table of the BTC/USD pair (data specialty).
- The couple can start a different increase if it knew the $ 117,500 resistance zone.
Bitcoin -Price strives higher
Bitcoin Price found support near the $ 112,200 zone and started a new increase. BTC was able to climb above the resistance levels of $ 113,500 and $ 114,800.
The price even knew the resistance of $ 115,500 to go to a positive zone. Finally, the price tested the $ 117,500 resistance zone. A high was formed at $ 117,643 and the price is now the profits above the 23.6% FIB retracement level of the upward movement of the $ 112,629 Swing low to $ 116,643 High.
Bitcoin is now traded above $ 115,000 and the 100 -hour simple advancing average. There is also an important bullish trend line that forms with support for $ 115,600 on the hour table of the BTC/USD pair.
Immediate resistance at the top is near the level of $ 117,200. The first key resistance is near the level of $ 117,500. The next resistance can be $ 118,250. A close -up resistance of $ 118,250 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 119,200 tests. More profits can send the price to the $ 120,000 level. The main objective can be $ 121,500.
Another drop in BTC?
If Bitcoin does not rise above the $ 117,500 resistance zone, this can start a new decrease. Immediate support is near the level of $ 116,450. The first major support is near the level of $ 115,600 and the trend line.
The next support is now near the $ 114,550 zone or the 61.8% FIB retracement level of the upward movement of the $ 112,629 Swing low to $ 116,643 high. More losses can send the price in the short term to the support of $ 113,800. The most important support is $ 112,500, including BTC could stay down.
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 – $ 115,600, followed by $ 114,550.
Large resistance levels – $ 117,500 and $ 118,250.