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The price of Bitcoins began a fresh decrease and tested the 104,600 USD zone. BTC is now consolidating and can fight for recovery above USD 107,500.
- Bitcoin began a fresh drop below the zone 107,500 USD.
- The price is traded below USD 107,000, and a 100 -hour straight moving average.
- There is a connecting line of bears formed with a resistance of USD 107,550 on the BTC/USD hour chart (data channel from Kraken).
- The couple can extend the losses if they break the support zone of USD 104,000.
The price of bitcoins will fall on
The price of Bitcoins began again and traded below the support zone of 107,500 USD. BTC even traded below USD 105,600 and tested the next support at USD 104,600.
Low was created at USD 104,604, and the price consolidates losses. It occurred above USD 105,200, but the price is still lower than 23.6% of the FIB slimming level of the last inheritance from $ 110,500 to the highest level of USD 104,604.
Bitcoin now trads below USD 107,000 and a 100 -hour straightforward movable average. On the other hand, immediate resistance is close to USD 106,000.
The first key resistance is close to USD 107,000. The next key resistance can be 107,500 USD. There is also a connecting bearing trend line that creates resistance at USD 107,550 on the BTC/USD hourly pair chart. It is close to 50% of the level of the last inheritance from $ 110,500 to a low level of USD 104,604.
Closing above the resistance 107,500 USD may send a higher price. 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.
Another drop in BTC?
If Bitcoin does not boost above the resistance zone 107,500 USD, it may start another decrease. Immediate support is close to USD 104,500. The first gigantic support is close to USD 104,000.
The next support is now near the zone 103 200 USD. Any losses can send a price in relation to support of USD 102,500 in the near future. The main support is USD 101,200, 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 104,000, followed by USD 103,200.
Main resistance levels – USD 106,000 and USD 107,000.
