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Bitcoin price started a new increase and tested the $ 108,800 zone. BTC is struggling to rise further and corrects the profits below $ 108,000.
- Bitcoin started a new increase above the $ 107,000 zone.
- The price is traded above $ 106,800 and the simple simple advancing average of 100 hours.
- There was a break under a bullish trend line with support at $ 107,800 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple can start a new increase if it remains above $ 105,500 zone.
Bitcoin -price starts a new increase
Bitcoin price started a new increase compared to the $ 104,500 support zone. BTC climbed above the level of $ 105,500 and $ 106,200 to enter a positive zone.
The price even jumped above $ 108,000. De Beren, however, actively continued to fear in the midst of rising global conflict. A high was formed at $ 108,898 and the price now corrects profits. There was a movement below the level of $ 108,000. The price fell under the 23.6% FIB retracement level of the upward movement of the $ 104,529 Swing low to $ 108,898 high.
By the way, there was a break under a bullish trend line with support for $ 107,800 on the hour table of the BTC/USD pair. Bitcoin now acts above $ 106,800 and the 100 simple advancing average.
At the top is immediate resistance near the level of $ 107,600. The first key resistance is near the level of $ 108,000. The next key resistance can be $ 108,800. A close -up resistance of $ 108,800 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.
More losses in BTC?
If Bitcoin does not rise above the $ 108,000 resistance zone, this can start a new decline. Immediate support is near the $ 106,700 level and the 50% FIB retracement level of the upward movement of the $ 104,529 Swing low to $ 108,898 high. The first major support is near the level of $ 106,200.
The next support is now near the $ 105,500 zone. 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 bearish zone.
Picly RSI (relative strength – index) – The RSI for BTC/USD is now near the level of 50.
Important support levels – $ 106,700, followed by $ 105,500.
Important resistance levels – $ 107,600 and $ 108,000.