Bitcoin price could not get a pace for a movement above $ 100,000 zone. BTC fell again and currently consolidates near the $ 96,000 zone.
- Bitcoin started a new fall of the $ 99,500 zone.
- The price is traded under $ 97,500 and the simple simple advancing average of 100 hours.
- There is a connecting Bearish trend line that forms with resistance at $ 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 is falling again
Bitcoin price formed a base above the level of $ 95,500 and started a recovery wave. BTC was able to exceed the resistance levels of $ 97,000 and $ 98,500.
The price even erased the resistance level of $ 99,000. De Beren, however, remained active below the level of $ 100,000. A high was formed at $ 99,481 and the price started a new decrease. There was a movement among the levels of $ 98,000 and $ 96,000.
A low point was formed at $ 94,888 and the price is recovering now. There was a movement above the level of $ 95,500. The price exceeded the 23.6% FIB retracement level of the downward movement of the $ 99,481 Swing high to $ 94,881 low.
Bitcoin price is now traded under $ 97,200 and the 100 simple advancing average per hour. At the top is immediate resistance near the level of $ 96,500. There is also a connecting Bearish trend line that forms with resistance at $ 96,400 on the hourly table of the BTC/USD pair.
The first key resistance is near the $ 97,200 level or the 50% FIB retracement level of the downward movement of the $ 99,481 Swing high to $ 94,881 low. The next key resistance can be $ 97,750. A close -up resistance of $ 97,750 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 level of $ 99,500 or even $ 100,000.
Another decline in BTC?
If Bitcoin does not rise above the $ 97,200 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 $ 95,000.
The next support is now near the $ 94,200 zone. More losses can send the price to the support of $ 93,500 in the short term. The most important support is $ 92,400.
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 – $ 95,500, followed by $ 95,000.
Large resistance levels – $ 96,500 and $ 97,200.
Credit : www.newsbtc.com
