Bitcoin Price started a new decrease under the support of $ 90,000. BTC must remain above the $ 86,000 zone to prevent more losses in the short term.
- Bitcoin started a new decrease of the $ 95,500 zone.
- The price is under $ 90,000 and the simple simple advancing average of 100 hours.
- There is a short-term triangle that forms with resistance to $ 89,000 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple can start a new decline if it does not remain above $ 90,000 zone.
Bitcoin -price drops sharply
Bitcoin price could not stay above the level of $ 95,500 and started a new decrease. BTC fell heavily under the support levels of $ 93,200 and $ 92,200.
The price even went below the level of $ 90,000. It tested the $ 86,000 zone. A low point was formed at $ 86,000 and the price now consolidates losses. It is back above the $ 88,500 level and the 23.6% FIB retracement level of the downward movement of the $ 96,482 Swing high to $ 86,000 low.
Bitcoin price is now traded under $ 91,200 and the 100 simple advancing average per hour. At the top is immediate resistance near the level of $ 89,000. There is also a short-term triangle that forms with resistance to $ 89,000 on the hourly table of the BTC/USD pair.
The first key resistance is near the level of $ 90,000. The following key resistance can be $ 91,250 or the FIB retracement level of 50% of the downward movement of the $ 96,482 Swing high to $ 86,000 low.
A close -up resistance of $ 91,250 can further send the price. In the declared case, the price could rise and the resistance level of $ 93,500 tests. More profits can send the price to the level of $ 95,000 or even $ 96,400.
Another decline in BTC?
If Bitcoin does not rise above the $ 90,000 resistance zone, this can start a new decline. Immediate support on the disadvantage is near the level of $ 88,000. The first major support is near the level of $ 87,250.
The next support is now near the $ 86,000 zone. More losses can send the price in the short term to the support of $ 85,000. The most important support is $ 83,200.
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 – $ 88,000, followed by $ 86,000.
Important resistance levels – $ 90,000 and $ 91,250.
Credit : www.newsbtc.com
