Bitcoin Price started a new rise and was traded for a new of all time above $ 111,600 zone. BTC is now consolidating and can start a new increase above $ 111,000
- Bitcoin started a new upward movement of the $ 106,800 zone.
- The price is traded above $ 108,500 and the simple simple advancing average of 100 hours.
- There was a break over an important Bearish trend line with resistance at $ 107,800 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple could get Bullish Momentum if it knew the $ 110,000 resistance.
Bitcoin price eyes fresh increase
Bitcoin prize was traded for a new of all time above $ 110,000 and recently started a downward correction. BTC tested the $ 106,700 zone and recently started a new increase.
There was a movement above the resistance levels of $ 107,000 and $ 108,000. The bulls pushed the price above the 23.6% FIB retracement level of the recent decrease of the $ 111,983 Swing high to $ 106,672 low. By the way, there was a break above an important bearish trend line with resistance at $ 107,800 on the hour table of the BTC/USD pair.
Bitcoin is now traded above $ 109,000 and the 100 -hour simple advancing average. At the top is immediate resistance near the level of $ 110,000. It is close to the 61.8% FIB racement level of the recent decrease of the $ 111,983 Swing high to $ 106,672 low.
The first key resistance is near the level of $ 110,750. The next key resistance can be $ 111,800. A close -up resistance of $ 111,800 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 113,000 tests. More profits can send the price to the $ 115,000 level.
Another decline in BTC?
If Bitcoin does not rise above the $ 111,000 resistance zone, this can start a new correction. Immediate support on the disadvantage is close to the $ 108,000 level. The first major support is near the level of $ 107,500.
The next support is now near the $ 106,500 zone. All losses can send the price in the short term to the support of $ 105,000. The most important support is $ 103,200, including BTC possibly getararish 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 – $ 107,500, followed by $ 106,500.
Important resistance levels – $ 111,000 and $ 113,000.