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Bitcoin price started a new decrease and tested the $ 103,200 zone. BTC is now recovering and can strive for a movement above the $ 106,800 resistance.
- Bitcoin started a new decrease among the levels of $ 106,800 and $ 105,500.
- The price acts almost $ 105,800 and the 100 -hour simple advancing average.
- There was a break over an important Bearish trend line with resistance at $ 105,000 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple can start a new increase if it knew the $ 106,800 resistance zone.
Bitcoin -Price Restores
Bitcoin price started a new decrease after it had not deleted the $ 110,000 resistance zone. BTC fell under the support levels of $ 107,000 and $ 106,000.
The price even fell below the support level of $ 104,000. Finally, it tested the $ 103,200 zone. A low point was formed at $ 103,078 and the price is now repairing losses. There was a movement above the 23.6% FIB retraction level of the recent decrease of the $ 110.411 Swing high to $ 103.078 low.
By the way, there was a break above an important bearish trend line with resistance at $ 105,000 on the hourly table of the BTC/USD pair. Bitcoin is now traded near $ 105,800 and the 100 -hour simple advancing average.
At the top is immediate resistance near the level of $ 106,000. The first key resistance is near the level of $ 106,750. It is close to the 50% FIB racement level of the recent decrease of $ 110,411 Swing high to $ 103,078 low. The next key resistance can be $ 107,500.
A close -up resistance of $ 107,500 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 108,000 tests. More profits can send the price to the $ 110,000 level.
Another decline in BTC?
If Bitcoin does not rise above the $ 106,750 resistance zone, this can start a decrease. Immediate support is close to the $ 105,000 level. The first major support is near the level of $ 104,200.
The next support is now near the $ 103,200 zone. More losses can send the price to the $ 102,500 in the short term. The most important support is $ 100,000, including BTC a 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 above 50 -level.
Important support levels – $ 104,200, followed by $ 103,200.
Important resistance levels – $ 106,750 and $ 107,500.