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Bitcoin price started a new increase above $ 107,500 zone. BTC is now consolidating and can strive for a movement above the $ 108,800 resistance.
- Bitcoin started a new increase above $ 107,500 zone.
- The price is traded above $ 107,500 and the simple simple advancing average of 100 hours.
- There is a bullish trend line that forms with support for $ 107,600 on the hourly table of the BTC/USD pair (data specialty).
- The couple can start a new increase if it remains above $ 106,500 zone.
Bitcoin -Price eyes more profit
Bitcoin price started a new increase above the $ 105,000 zone. BTC got pace and was able to climb above the levels of $ 105,500 and $ 106,500 to enter a positive zone.
The bulls pushed the price above the $ 107,500 resistance and the price tested the $ 108,800 zone. A high was formed at $ 108,792 and the price is now consolidating the profit above the 23.6% FIB retracement level of the upward movement of the $ 106,477 Swing low to $ 108,792 high.
Bitcoin is now traded above $ 107,000 and the 100 -hour simple advancing average. There is also a bullish trend line that forms with support for $ 107,600 on the hour table of the BTC/USD pair.
At the top is immediate resistance near the level of $ 109,800. The first key resistance is near the level of $ 109,200. A close -up resistance of $ 109,200 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.
Disadvantage correction in BTC?
If Bitcoin does not rise above the $ 108,800 resistance zone, this can start a decrease. Immediate support is near the level of $ 107,800. The first major support is near the level of $ 107,500 and the trend line.
The next support is now near the $ 107,200 zone and the 61.8% FIB retracement level of the upward movement of the $ 106,477 Swing low to $ 108,792 high. More losses can send the price to the support of $ 106,500 in the short term. The most important support is at $ 105,500, including BTC may get Bearish 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 $ 107,200.
Important resistance levels – $ 108,800 and $ 110,000.