Bitcoin price began short -term correction of a decrease from a zone of $ 106 250. BTC is consolidated above $ 100,000 and can strive for a new increase.
- Bitcoin began to correct deficiencies from the zone $ 106 250.
- The price is traded below 103,500 US dollars and 100 hourly simple sliding average.
- There was a break below the key line of the bull trend with support of 104,650 US dollars 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 is 100 thousand dollars
The price of bitcoins began a decent increase above the zone for $ 100,000. BTC was able to rise above levels of 102,500 US dollars and $ 103,800.
The high maximum was formed at the level of $ 106,246, and the price has recently begun to reduce correction. There was a fall below the levels of $ 104,000 and 103,500 dollars. In addition, there was a break below the key line of the bull trend with support of 104,650 dollars in the hourly diagram of the BTC/USD pair.
Low was formed at 99,538 dollars, and the price is currently growing. There was a step above the level of FIB recovery 23.6% of the recent reduction from high swing of $ 106,246 to a low level of $ 99,538.
The price of bitcoins is now trading below 103,800 US dollars, and 100 hourly simple sliding average. On the other hand, immediate resistance approaches 102,000 dollars. The first key resistance is located near the level of $ 103,000 or the recovery level of 50% of the recent decrease from high swing by $ 106,246 to a low level of $ 99,538.
A clear move above the resistance of $ 103,000 can lead to a price increase. The next key resistance can be 104,650 dollars. Close above the resistance in the amount of 104,650 US dollars can lead to a further price increase. In the declared case, the price may rise and check the resistance level of 106,250 US dollars. Any benefits can send the price to the level of 108,500 dollars.
More losses in BTC?
If Bitcoin does not rise above the resistance zone in the amount of $ 103,000, 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 located next to the zone for $ 98,800. Any other losses can send a price of support in the amount of 96,500 dollars in the near future.
Technical indicators:
The hourly macd – Macd is now losing the pace in the bull zone.
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 $ 103,000 and US $ 104,650.
