The price of bitcoins dives again – is there a deeper correction?

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The price of Bitcoins began again a decrease in relation to the USD 92,000 zone. BTC has returned below USD 85,500 and can still decrease below USD 80,000.

  • Bitcoin began a fresh drop below the $ 85,000 zone.
  • The price is sold below USD 85,000, and a 100 -hour straight moving average.
  • There is a tiny -term line of bears trend formed with resistance at USD 83,200 on the BTC/USD hour chart (data channel from Kraken).
  • The couple could start another decrease if they do not remove the resistance zone of USD 80,000.

The price of bitcoins is resistant

The price of bitcoins began again a decrease below USD 88,000. BTC traded below USD 86,000 and USD 85,000 support levels. Finally, the price tested the USD 80,000 support zone.

Low was created at the level of 80 006 USD, and the price recently started the recovery wave. There was traffic above the resistance levels 80,500 USD and USD 81,200. Bulls exceeded the price in the direction of 23.6% of the level of withdrawal FIB of downward movement from a height of USD 91 060 to a low level of USD 80 006.

The price of Bitcoins is currently listed below USD 85,000, and a 100 -hour straight moving average. On the other hand, immediate resistance is close to USD 82,700. The first key resistance is close to USD 83,000.

There is also a tiny -term bear trend line that creates a resistance at USD 83,200 on the BTC/USD hourly pair chart. The next key resistance can be $ 85,000. There is nearly 50% of the FIB withdrawal level down from USD 91 060 to a low level of USD 80 006.

Bitcoin price
Source: Btcusd at tradingview.com

Closing above the resistance 85,000 USD can cause a price raise. In the given case, the price may raise and test the resistance level of USD 87,500. The profits may send a price to USD 90,000 and even USD 96,200.

Another BTC decrease?

If Bitcoin does not raise above the resistance zone of USD 83,000, it may start again. Immediate support in the minus is close to USD 81,000. The first enormous support is close to USD 80,200.

The next support is now near the $ 80,000 zone. Any losses can send a price in relation to support of 78,000 USD in the near future. The main support is 75,000 USD.

Technical indicators:

The MacD – MacD hour is now losing the pace in the bear zone.

RSI hours (relative strength indicator) – RSI for BTC/USD is now below level 50.

Main support levels – USD 80,000, and then 78,000 USD.

Main resistance levels – USD 83,000 and USD 85,000.

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