Bitcoin Price fought about $ 107,000 and corrected the profit. BTC is currently approaching $ 100,000 and can find applications in the near future.
- Bitcoin began to correct deficiencies from the zone $ 107,000.
- The price is traded below 103,500 US dollars and 100 hourly simple sliding average.
- Below there was a break below the connected trend with support of $ 104,800 in the hourly diagram of the BTC/USD pair (data from Kraken).
- The couple can start another increase if it remains above the support zone for $ 100,000.
Bitcoin Price falls again
Bitcoin price began a decent movement upward above the zone 105,500 dollars. BTC was able to rise above the levels of $ 106,000 and 106,500 US dollars.
The bulls even raised the price above the level of $ 107,000. However, the bears were active above the zone of $ 107,000. The high was formed at 107,080 dollars, and the price is currently adjusting the profit. There was a step below the level of $ 105,000.
In addition, there was a break below the connecting line of the bull trend with support for $ 104,800 in the hourly diagram of the BTC/USD pair. The couple checked the zone 100,700 dollars. Low is formed at the level of $ 100,700, and the couple consolidates losses.
The price of bitcoins is now trading below 103,500 US dollars, and 100 hourly simple sliding average. On the other hand, immediate resistance is at a level of 102,200 US dollars or the level of FIB recovery by 23.6% down compared to the maximum of swinging $ 107,080 to a low level of $ 100,700.
The first key resistance is located next to the level of $ 104,000. This is close to the level of FIB recovery by 50% of the movement of a swing descending from the maximum of $ 107,080 to the level of $ 100,700. A clear move above the resistance in the amount of $ 104,000 can lead to a price increase. The next key resistance can be $ 105,000.
Close above the resistance of 105,000 US dollars can lead to a further price increase. In the declared case, the price can grow and check the resistance level of $ 106,200. Any benefits can send the price to the level of $ 107,000.
More losses in BTC?
If Bitcoin does not rise above the resistance zone of $ 102,200, it may begin to correct the deficiency. Direct support below is about 100,500 dollars. The first major support is located next to the level of $ 100,000.
The next support is now next to the zone for $ 88,500. Any other losses can send a price of support in the amount of $ 86,500 in the near future.
Technical indicators:
The hourly MACD – MACD is now gaining momentum in the bear area.
The hourly RSI (relative force index) – RSI for BTC/USD is now lower than the level of 50.
The main support levels are $ 100,500, followed by $ 100,000.
The main levels of resistance are $ 102,200 and $ 104,000.
