The Bitcoin price has started a recovery wave above USD 105,000. BTC is now consolidating and can try to immaculate the resistance of USD 106,500.
- Bitcoin has started a recovery wave above USD 105,000.
- The price is sold above USD 105,000, and a 100 -hour straight moving average.
- There is a stubborn trend line with a support for $ 105,350 on the BTC/USD hour chart (data channel from Kraken).
- The couple could start a fresh drop if they break the support zone of USD 104,000.
Return Bitcoin price
The price of bitcoins began again and sold below the support zone of USD 102,500. BTC even traded close to the $ 100,000 zone before the Bulls appeared.
Low was created and the price recovered above USD 103,500 resistance. Bulls even exceeded the price above the resistance of USD 105,000. The amount was created at USD 106 426, and the price consolidates profits above 23.6% of the FIB withdrawal level up to $ 100,400 to the highest level of USD 106 426.
Bitcoin now trads above USD 105,000, and a 100 -hour straight movable average. There is also a stubborn trend line with support of USD 105,350 at the BTC/USD hour chart.
On the other hand, immediate resistance is close to USD 106,200. The first key resistance is close to USD 106,500. The next key resistance can be USD 107,600. Closing above the resistance of USD 107,600 may send a higher price. In the given case, the price may escalate and test the resistance level of USD 108,800. Any profits can send a price to USD 110,000.
Another BTC decrease?
If Bitcoin does not escalate above the resistance zone 106,200 USD, he may start another decrease. Immediate support is close to USD 105,200 and trends. The first sedate support is located near the level of USD 103,500 and 50% of the level of withdrawal of FIB movement from $ 100,400 to the highest level of USD 106,426.
The next support is now near the USD 102,000 zone. Any losses can send a price of $ 100,500 in the near future. The main support is 100,000 USD, below which BTC can gain bears.
Technical indicators:
MacD – MacD hours are now gaining a pace in the stubborn zone.
RSI hours (relative strength indicator) – RSI for BTC/USD is now above level 50.
Main support levels – USD 105,200, then 103,500 USD.
Main resistance levels – USD 106,200 and USD 107,600.
