Bitcoin price began a fresh step upwards above $ 102,000. BTC is growing and can reach the pace for movement above the resistance zone in the amount of 105,000 US dollars.
- Bitcoin began a decent step upward above the zone $ 102,000.
- The price is traded above $ 103,500 dollars and 100 hourly simple sliding average.
- There was a break above the key line of the bear trend with a resistance of $ 102,400 in the hourly diagram of the BTC/USD pair (data from Kraken).
- The couple can start another decrease if it remains below the zone of $ 105,000.
Bitcoin price gusts resistance
The price of bitcoins began a decent increase above the resistance zone of $ 100,000. BTC was able to surpass the resistance levels of $ 102,000 and $ 102,02 to go to a positive zone.
There was a break above the key line of the bear trend with a resistance at 102,400 dollars in the hourly diagram of the BTC/USD pair. The couple rose higher than the FIB recovery level of 61.8% in a descending wave from high swing of $ 107,080 to a low level of $ 97,688. This even cleared the resistance zone 103,500 dollars.
The couple settled in a positive zone and now encounters obstacles near the zone of $ 105,000. The price of bitcoins is now trading above 103,000 US dollars and 100 hourly simple sliding average. On the other hand, immediate resistance approaches the level of $ 104,800 or the FIB recovery level 76.4% in a descending wave from high swing of $ 107,080 to a low level of $ 97,688.
The first key resistance is located next to the level of $ 105,000. The next key resistance can be 105,500 dollars. Close above the resistance of 105,500 US dollars can lead to a further increase in price. In the declared case, the price may rise and check the resistance level of $ 107,000. Any benefits can send the price to the level of $ 108,800 in the short term.
Another decline in BTC?
If Bitcoin does not rise above the resistance zone of $ 105,000, it can begin a new decline. Direct support below is about 103,200 dollars. The first major support is located near the level of $ 102,000.
The next support is now located next to the 101,200 zone. Any other losses can send a price of support in the amount of $ 100,000 in the near future.
Technical indicators:
The hourly macd – MACD is now gaining momentum in the bull zone.
The hourly RSI (relative force) – RSI for BTC/USD is now higher than the level of 50.
The main support levels are $ 103 $ 200, followed by $ 102,000.
The main resistance levels are $ 105,000 and US $ 107,000.
