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Bitcoin price started a new increase above $ 106,500 zone. BTC is now consolidating and can strive for a movement above the $ 108,000 resistance.
- Bitcoin started a new increase above $ 106,500 zone.
- The price is traded above $ 106,500 and the simple simple advancing average of 100 hours.
- There was a break under a bullish trend line with support at $ 107,300 on the hourly table of the BTC/USD pair (data specialty).
- The couple can start a new increase if it remains above $ 105,500 zone.
Bitcoin -Price is reserved
Bitcoin price started a new increase above $ 104,200 zone. BTC got pace and was able to climb above the levels of $ 105,000 and $ 105,500 to enter a positive zone.
The bulls pushed the price above the $ 106,500 resistance and the price tested the $ 108,150 zone. A high was formed at $ 108,165 and the price is now consolidating the profits. There was a break under a bullish trend line with support for $ 107,300 on the hour table of the BTC/USD pair.
However, the price remained above the 23.6% FIB retraction level of the upward movement of the $ 98.272 Swing low to $ 108.165 high. Bitcoin is now traded above $ 106,000 and the 100 -hour simple advancing average.
At the top is immediate resistance near the level of $ 107,800. The first key resistance is near the $ 108,150 level or the 1,236 FIB extension level of the downward movement of the $ 106,470 Swing high to $ 98,276 low. A nearby $ 108,150 resistance can further send the price. In the case mentioned, the price could rise and the resistance level of $ 110,000 tests. More profits can send the price to the $ 112,000 level.
Bearish response in BTC?
If Bitcoin does not rise above the $ 108,150 resistance zone, this can start a new decrease. Immediate support is close to the level of $ 105,800. The first major support is close to the $ 105,000 level.
The next support is now near the $ 103,200 zone and the 50% FIB retracement level of the upward movement of the $ 98,272 Swing low to the $ 108,165 high. More losses can send the price to the $ 102,500 in the short term. The most important support is $ 101,200, including BTC may get Bearish Momentum.
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 below the 50 -level level.
Important support levels – $ 105,800, followed by $ 105,500.
Important resistance levels – $ 107,800 and $ 108,150.