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Bitcoin price started a recovery wave above $ 82,500 zone. BTC now rises and can strive for a movement above the levels of $ 86,500 and $ 87,200.
- Bitcoin started a decent wave of recovery above the $ 83,000 zone.
- The price is traded above $ 84,500 and the simple simple advancing average of 100 hours.
- There is a connecting bullish trend line that forms with support at $ 85,200 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple can start a new increase if it knew the levels of $ 86,200 and $ 87,000.
Bitcoin -Rise stable price eyes
Bitcoin price remained stable above the level of $ 82,000. BTC formed a basis and recently started a recovery wave above the resistance level of $ 83,500.
The bulls pushed the price above the resistance level of $ 85,000. De Beren, however, were active near the $ 86,500 resistance zone. A high was formed at $ 85,591 and the price corrected some winnings. There was a movement below the level of $ 85,000.
The price fell below the 23.6% FIB retraction level of the upward movement of the $ 83,667 Swing low to $ 85,591 high. Bitcoin price is now traded above $ 85,200 and the 100 simple advancing average per hour. There is also a connecting bullish trend line that forms with support for $ 85,200 on the hour table of the BTC/USD pair.
At the top is immediate resistance near the level of $ 86,000. The first key resistance is near the level of $ 86,500. The next key resistance can be $ 87,200. A close -up resistance of $ 87,200 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 88,500 tests. More profits can send the price to the level of $ 88,800 or even $ 90,000.
Another drop in BTC?
If Bitcoin does not rise above the $ 86,500 resistance zone, this can start a new decline. Immediate support on the disadvantage is near the level of $ 85,500. The first major support is near the $ 85,200 level or the 50% FIB retracement level of the upward movement of the $ 83,667 Swing Low to $ 85,591 high.
The next support is now near the $ 84,500 zone. More losses can send the price to $ 83,000 support in the short term. The most important support is $ 81,500.
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 – $ 85,500, followed by $ 85,200.
Large resistance levels – $ 86,500 and $ 87,200.