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Bitcoin price started a new increase in $ 100,000 zone. BTC rises and can strive for a movement in the direction of $ 105,000 resistance.
- Bitcoin started a strong increase above the $ 98,500 resistance zone.
- The price is traded above $ 100,500 and the simple simple advancing average of 100 hours.
- There is a new connecting bullish trend line that forms with support for $ 102,000 on the hourly table of the BTC/USD pair (data specialty).
- The couple can start a new increase if it knew the $ 104,200 zone.
Bitcoin -price increases more than 8%
Bitcoin price started a new increase compared to the $ 95,500 support zone. BTC formed a basis and was able to erase the $ 98,000 resistance zone. The bull even pushed the price above $ 100,000.
The pair was above $ 103,500 and tested $ 104,200. A high is formed at $ 104,082 and the price now consolidates profit above the 23.6% FIB retracement level of the upward movement of the $ 95,824 Swing low to $ 104,082 High.
Bitcoin is now traded above $ 100,500 and the 100 -hour simple advancing average. There is also a new connecting bullish trend line that forms with support for $ 102,000 on the hour table of the BTC/USD pair.
At the top is immediate resistance near the level of $ 103,500. The first key resistance is near the level of $ 104,500. The next key resistance can be $ 105,000. A close -up resistance of $ 105,000 can further send the price. In the declared case, the price could rise and the resistance level of $ 106,500 tests. More profits can send the price to the $ 108,000 level.
Are dips supported in BTC?
If Bitcoin does not rise above the $ 103,500 resistance zone, this can start a new downward correction. Immediate support on the disadvantage is near the level of $ 102,200. The first major support is near the level of $ 100,000 and the 50% FIB retraction level of the upward movement of the $ 95,824 Swing Low to $ 104,082 High.
The next support is now near the $ 98,800 zone. More losses can send the price in the short term to the support of $ 97,500. The most important support is at $ 96,200.
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 – $ 102,200, followed by $ 100,000.
Important resistance levels – $ 104,200 and $ 105,000.
Credit : www.newsbtc.com
