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Home»Altcoins»Main support levels to view
Altcoins

Main support levels to view

2025-02-04No Comments3 Mins Read
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Bitcoin Price started a decrease of the $ 102,500 zone. BTC is pulling out profits and is struggling to stay above the $ 96,500 support zone.

  • Bitcoin started a new fall below the level of $ 100,000.
  • The price is traded under $ 99,500 and the simple simple advancing average of 100 hours.
  • There is a new connecting Beerarish trend line that forms with resistance to $ 99,000 on the hour table of the BTC/USD pair (data feed from Kraken).
  • The couple can start a new increase if it remains above $ 95,500 zone.

Bitcoin price drops under $ 100,000

Bitcoin price cannot be higher above $ 102,500 zone. It started a decline below $ 100,000 zone. BTC received Beerarish Momentum for a movement below $ 98,500 and $ 97,500 levels.

The bears pushed the price below the 50% FIB retraction level of the upward movement of the $ 91,000 swing low to $ 102,500 high. The price even tested the $ 96,500 support zone and currently consolidates losses. There is also a new connecting Beerarish trend line that forms with resistance to $ 99,000 on the hourly table of the BTC/USD pair.

Bitcoin Price is now traded under $ 98,000 and the 100 simple advancing average per hour. Moreover, immediate resistance is near the $ 98,000 level. The first key resistance is near the level of $ 99,000.

Bitcoin -price
Source: BTCUSD on TradingView.com

The next key resistance can be $ 100,000. A close -up resistance of $ 100,000 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 102,500 tests. More profits can send the price to the level of $ 103,500.

More losses in BTC?

If Bitcoin does not rise above the $ 99,000 resistance zone, this can start a new decline. Immediate support on the disadvantage is near the level of $ 96,500. The first major support is near the $ 95,500 level or the 61.8% FIB retracement level of the upward movement of the $ 91,000 Swing Low to $ 102,500 high.

See also  Litecoin: Why the FUD around LTC may not be all bad for investors

The next support is now near the $ 93,750 zone. All losses can send the price in the short term to the support of $ 95,500.

Technical indicators:

HORLY MACD – The MACD now loses pace in the bullish zone.

Picly RSI (relative strength -index) -The RSI for BTC/USD is now below the 50 -level level.

Important support levels – $ 96,500, followed by $ 95,500.

Important resistance levels – $ 99,000 and $ 100,000.

Source link

Levels main Support view
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