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Bitcoin Price started a decrease under $ 96,800 zone. BTC Hertet the $ 95,500 support zone and may have difficulty recovering losses.
- Bitcoin started a new decrease of the $ 98,000 zone.
- The price is traded under $ 96,500 and the simple simple advancing average of 100 hours.
- There is an important arary trend line that forms with resistance to $ 96,400 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple can start a new increase if it remains above $ 95,000 zone.
Bitcoin -Price Dips to support
Bitcoin price cannot delete the resistance levels of $ 99,000 and $ 100,000. BTC was a top and started a new fall below the level of $ 97,000. There was a clear movement below the support level of $ 96,500.
The price even fell below the $ 95,000 level. However, the Bulls appeared almost $ 95,200. A low point was formed at $ 95,224 and the price is now trying to restore. There was a movement above the level of $ 96,000. The price knew the 23.6% FIB racement level of the downward movement of the $ 98,826 Swing high to $ 95.224 low.
Bitcoin price is now traded under $ 96,500 and the 100 simple advancing average per hour. Moreover, immediate resistance is near the level of $ 96,400. There is also an important bearish trend line that forms with resistance to $ 96,400 on the hour table of the BTC/USD pair.
The first key resistance is near the $ 97,000 level or the 50% FIB retracement level of the downward movement of the $ 98,826 Swing high to $ 95.224 low. The next key resistance can be $ 98,000.
A close -up resistance of $ 98,000 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 98,800 tests. More profits can send the price to the $ 100,000 level or even $ 100,500.
More losses in BTC?
If Bitcoin does not rise above the $ 97,000 resistance zone, this can start a new decline. Immediate support on the disadvantage is near the level of $ 95,500. The first major support is near the level of $ 95,200.
The next support is now near the $ 95,000 zone. More losses can send the price to the support of $ 93,500 in the short term. The most important support is at $ 92,200.
Technical indicators:
MACD per hour – the MACD now loses 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 – $ 95,500, followed by $ 95,000.
Important resistance levels – $ 97,000 and $ 98,000.