Bitcoin price shows Beerarish signs below $ 113,000. BTC is struggling to recover and can start a new decline below $ 111,000 zone.
- Bitcoin started a recovery wave above the $ 109,550 zone.
- The price is under $ 112,000 and the simple simple advancing average of 100 hours.
- There was a break under an important bullish trend line with support at $ 112,000 on the hourly table of the BTC/USD pair (data specialty).
- The couple can start a new decline if it breaks the $ 110,750 support zone.
Bitcoin -price is falling again
Bitcoin price tried a new recovery wave of $ 108,734 low. BTC was able to climb above the resistance levels of $ 109,500 and $ 110,000.
The price exceeded the 23.6% FIB retraction level of the key decrease of the $ 117,355 Swing high to $ 110,734 low. The bulls even pushed the price above the $ 112,500 resistance zone. However, the price had difficulty staying above $ 113,000 resistance.
It withdrew from the FIB level of 50% of the key decrease of the $ 117,355 Swing high to $ 110,734 low. By the way, there was a break under an important bullish trend line with support for $ 112,000 on the hour table of the BTC/USD pair.
Bitcoin is now traded under $ 112,000 and the 100 -hour simple advancing average. Immediate resistance at the top is near the level of $ 112,400. The first key resistance is near the level of $ 113,000. The next resistance can be $ 113,500.
A close -up resistance of $ 113,500 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 114,000 tests. More profits can send the price to the level of $ 115,500. The main objective can be $ 116,500.
More losses in BTC?
If Bitcoin does not rise above the $ 113,000 resistance zone, this can start a new decline. Immediate support is close to the level of $ 110,750. The first major support is near the level of $ 110,000.
The next support is now near the $ 109,500 zone. More losses can send the price to the support of $ 108,500 in the short term. The most important support is $ 106,500, including BTC could fall sharply.
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 below the 50 -level level.
Important support levels – $ 110,750, followed by $ 109,500.
Important resistance levels – $ 112,500 and $ 113,000.