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Bitcoin price started a narrow correction below $ 96,500 zone. BTC now acts below $ 95,000 and is struggling to start a new increase.
- Bitcoin started a new fall below $ 95,500 zone.
- The price is traded under $ 95,500 and the simple simple advancing average of 100 hours.
- There is a connecting Bearish trend line that forms with resistance at $ 94,750 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple could start another increase if it knew the $ 95,750 zone.
Bitcoin -Price is reserved
Bitcoin price began a Nock correction under the $ 97,200 support zone. BTC fell under the support levels of $ 96,200 and $ 95,500.
The bears even pushed it under $ 94,500. A low point was formed at $ 93,570 and the price is now trying to restore. There was a movement above the level of $ 94,000. The price knew the 23.6% FIB racement level of the recent decrease of the $ 97,885 Swing high to $ 93,570 low.
De Beren, however, are active near the $ 95,000 zone. Bitcoin Price is now traded under $ 95,000 and the 100 simple advancing average. At the top is immediate resistance near the level of $ 94,750. There is also a connecting Bearish trend line that forms with resistance at $ 94,750 on the hour table of the BTC/USD pair.
The first key resistance is near the level of $ 95,300. The following key resistance can be $ 95,750 and the FIB racement level of 50% of the recent decrease of the $ 97,885 Swing high to $ 93,570 low. An end above the resistance of $ 95,750 can further send the price. In the declared case, the price could rise and the resistance level of $ 96,800 tests. More profits can send the price to the $ 98,000 level.
More losses in BTC?
If Bitcoin does not rise above the $ 94,750 resistance zone, this can start a new downward correction. Immediate support on the disadvantage is near the level of $ 93,750. The first major support is near the level of $ 93,500.
The next support is now near the $ 93,200 zone. More losses can send the price to the support of $ 92,500 in the short term. The most important support is at $ 91,200.
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 – $ 93,750, followed by $ 93,500.
Important resistance levels – $ 94,750 and $ 95,750.
Credit : www.newsbtc.com
