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Bitcoin Price started a new fall in the $ 92,000 zone. BTC is back below $ 85,500 and can go further than $ 80,000.
- Bitcoin started a new fall below $ 85,000 zone.
- The price is traded under $ 85,000 and the simple simple advancing average of 100 hours.
- There is a bearish trend line in the short term that forms with resistance at $ 83,200 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple can start a new decline if it did not know the $ 80,000 resistance zone.
Bitcoin -Price is reserved
Bitcoin price started a new fall below the level of $ 88,000. BTC traded under the support levels of $ 86,000 and $ 85,000. Finally, the price tested the $ 80,000 support zone.
A low point was formed at $ 80.006 and the price recently started with a recovery wave. There was a movement above the resistance levels of $ 80,500 and $ 81,200. The Bulls pushed the price to the 23.6% FIB retracement level of the downward movement of the $ 91,060 Swing high to $ 80.006 low.
Bitcoin price is now traded under $ 85,000 and the 100 -hour simple advancing average. At the top is immediate resistance near the level of $ 82,700. The first key resistance is near the level of $ 83,000.
There is also a bearish trend line in the short term that forms with resistance at $ 83,200 on the hour table of the BTC/USD pair. The next key resistance can be $ 85,000. It is close to the 50% FIB racement level of the downward movement of the $ 91,060 Swing high to $ 80.006 low.
A close -up resistance of $ 85,000 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 87,500 tests. More profits can send the price to the level of $ 90,000 or even $ 96,200.
Another decline in BTC?
If Bitcoin does not rise above the $ 83,000 resistance zone, this can start a new decline. Immediate support on the disadvantage is near the level of $ 81,000. The first major support is near the level of $ 80,200.
The next support is now near the $ 80,000 zone. 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 loses 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 – $ 80,000, followed by $ 78,000.
Important resistance levels – $ 83,000 and $ 85,000.
Credit : www.newsbtc.com
