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Bitcoin Price started a new fall below $ 78,000 zone. BTC now consolidates losses and can experience resistance near the $ 77,800 zone.
- Bitcoin started a new fall under the $ 78,000 zone.
- The price is traded under $ 78,500 and the simple simple advancing average of 100 hours.
- There is a connecting Bearish trend line that forms with resistance at $ 79,500 on the hourly table of the BTC/USD pair (data specialty).
- The couple could start another increase if it knew the $ 78,500 zone.
Bitcoin -price is falling again
Bitcoin Price started a new decrease among the levels of $ 80,000 and $ 79,500. BTC traded under the levels of $ 78,500 and $ 77,000 to enter a bearish zone.
The price even went under the $ 75,000 support zone. A layer was formed at $ 74,475 and the price started a recovery wave. There was a movement above the level of $ 75,500. The price climbed above the 23.6% FIB racement level of the recent decrease of the $ 80,800 Swing high to $ 74,475 low.
Bitcoin price is now traded under $ 78,200 and the 100 simple advancing average per hour. At the top is immediate resistance near the level of $ 77,800 or the 50% FIB retracement level of the recent decrease of the $ 80,800 swing high to $ 74,475 low.
The first key resistance is near the level of $ 78,500. The next key resistance can be $ 79,500. There is also a connecting Bearish trend line that forms with resistance at $ 79,500 on the hourly table of the BTC/USD pair.
A close -up resistance of $ 79,500 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 81,500 tests. More profits can send the price to the $ 82,000 level.
Another decline in BTC?
If Bitcoin does not rise above the $ 78,500 resistance zone, this can start a new decline. Immediate support on the disadvantage is near the level of $ 75,750. The first major support is near the level of $ 74,750.
The next support is now near the $ 73,500 zone. More losses can send the price to $ 72,000 support in the short term. The most important support is at $ 70,000.
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 below the 50 -level level.
Important support levels – $ 75,750, followed by $ 74,750.
Large resistance levels – $ 78,500 and $ 79,500.