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The price of Bitcoins began again a decrease below the zone 105,500 USD. BTC consolidates now and tries to remain above the support of 103 200 USD.
- Bitcoin began again a decrease below USD 106,500 and USD 105,500.
- The price is sold below USD 106,500, and a 100 -hour straightforward movable average.
- There is a key line of the Bear Trend with a resistance of USD 106,600 at the BTC/USD hour chart (data channel from Kraken).
- The pair can start a fresh recovery wave if they cleanse the resistance zone of 105,500 USD.
The price of bitcoins will drop sharply
The price of Bitcoins began again after the resistance zone 110,500 USD could not be cleaned. BTC has fallen below the support levels of USD 107,500 and USD 106,500.
The price has fallen even below the level of support of USD 104,200. Finally, he tested the USD 103,000 zone. Low was created at USD 103,078, and the price consolidates losses below 23.6% of the FIB level of recent decrease from $ 110 2,73 to the highest level of USD 103 078.
Bitcoin now trads below USD 105,500 and a 100 -hour straightforward movable average. There is also a key line of the bear trend, which is formed with resistance of USD 106,600 on the BTC/USD hour chart.
On the other hand, immediate resistance is close to USD 104,200. The first key resistance is close to USD 105,500. Another key resistance may be USD 106,600, and 50% of the slimming level of FIB of a recent decrease from $ 110 2,73 to the highest level of USD 103,078.
Closing above the resistance of USD 106,600 may send a price for a further higher one. In the given case, the price may boost and test the resistance level of USD 108,000. Any profits can send a price to USD 110,000.
More losses in BTC?
If Bitcoin does not boost above the resistance zone 105,500 USD, it may start another decrease. Immediate support is close to USD 103,000. The first huge support is close to USD 102,350.
The next support is now near the USD 101,500 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 bear zone.
RSI hours (relative strength indicator) – RSI for BTC/USD is now below level 50.
Main support levels – USD 103,000, followed by USD 102,350.
Main resistance levels – USD 104,200 and USD 105,500.
