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Bitcoin price started a new increase above $ 80,000 zone. BTC now consolidates profits and perhaps corrects some to test the $ 80,500 zone.
- Bitcoin started a new increase above $ 80,000 zone.
- The price is traded above $ 80,500 and the simple simple advancing average of 100 hours.
- There was a break above an important bearish trend line with resistance at $ 78,800 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple could start another increase if it knew the $ 83,500 zone.
Bitcoin -Price jumps more than 5%
Bitcoin price started a new increase compared to the $ 74,500 zone. BTC formed a basis and was given pace for a movement above the resistance levels of $ 78,500 and $ 80,000.
The bulls pumped the price above the resistance of $ 80,500. There was a break over an important bearish trend line with resistance at $ 78,800 on the hour table of the BTC/USD pair. The couple even knew the $ 82,500 resistance zone. A high was formed at $ 83,548 and the price is now consolidating the profit above the 23.6% FIB retracement level of the upward movement of the $ 74,572 Swing low to $ 83,548 high.
Bitcoin price is now traded above $ 80,200 and the 100 -hour simple advancing average. At the top is immediate resistance near the level of $ 83,200. The first key resistance is near the level of $ 83,500.
The next key resistance can be $ 84,500. A close -up resistance of $ 84,500 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 85,800 tests. More profits can send the price to the $ 88,000 level.
Are dips supported in BTC?
If Bitcoin does not rise above the $ 83,500 resistance zone, this can start a downward correction. Immediate support on the disadvantage is near the level of $ 81,400. The first major support is near the level of $ 80,500.
The next support is now near the $ 79,500 zone or the 50% FIB retracement level of the upward movement of the $ 74,572 Swing low to $ 83,548 High. More losses can send the price to $ 78,000 support in the short term. The most important support is $ 75,000.
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 – $ 81,400, followed by $ 80,500.
Large resistance levels – $ 83,500 and $ 84,500.
