The price of Bitcoins began a fresh enhance above the zone 108,500 USD. BTC has now increased by over 3% and shows positive signs above USD 110,000.

• Bitcoin has started a fresh enhance above the zone 108,500 USD.
• The price is sold above USD 110,500, and a 100 -hour straight moving average.
• There was a break over a bear trend line with a resistance of USD 108,800 on the BTC/USD hour chart (data channel from Kraken).
• The couple can still grow if they immaculate the $ 112,000 resistance zone.

Bitcoin eyes price more profits

The price of Bitcoins has started a fresh enhance after cleaning the retaining zone of USD 108,500. BTC has gained a pace over USD 108,800 and USD 109,500 resistance.

In addition, there was a break over the bear trend line with a resistance of USD 108,800 on the chart of the hourly btc/USD pair. Bulls even pumped a pair above the resistance zone worth USD 110,000. It opened the door to go to USD 112,000.

The amount was created at USD 112,000 and the price consolidates profits. He tested 23.6% of FIB rebirth levels from USD 107,500 at a low level of $ 112,000.

Bitcoin is now trading above USD 109,500 and a 100 -hour straight movable average. Direct resistance to the advantage is nearly $ 111,600. The first key resistance is close to USD 112,000. The next resistance can be USD 112,500.

Closing above the resistance of $ 112,500 may cause a price enhance. In the given case, the price may enhance and test the resistance level of USD 115,000. Any profits can send a price to USD 116,000. The main goal can be USD 118,000.

Correction in BTC?

If Bitcoin does not enhance above the resistance zone of USD 112,000, it may start a downward correction. Immediate support is close to USD 110 800. The first grave support is located near the level of USD 109,750 or 50% of the UP FIB withdrawal level from USD 107,500 at a low level up to USD 112,000.

The next support is now near the zone 109 200 USD. Any losses can send a price in relation to support of USD 108,500 in the near future. The main support is USD 107,500, below which BTC can still go down.

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 – $ 110,800, and then 109,750 USD.

Main resistance levels – USD 112,000 and USD 115,000.