The bitcoin price has started the recovery wave above the zone 96,500 USD. BTC is growing and can strive for traffic above the resistance zone worth 98,800 USD.

• Bitcoin began a decent recovery wave above the zone 96,500 USD.
• The price is sold above USD 97,000, and a 100 -hour straight moving average.
• There is a key stubborn trend line with support of nearly USD 97,600 on the BTC/USD hour pair chart (data channel from Kraken).
• The couple can start another boost if they remain above the zone 96,400 USD.

The price of bitcoins is higher

The bitcoin price has created a base above USD 94,500 and started the recovery wave. BTC was able to exceed the resistance levels of USD 95,000 and USD 96,400.

The price even cleaned the resistance level of USD 97,500. Bulls even exceeded the price above USD 98,500. The highest level was created nearly USD 98,725, and the price consolidates profits. The price is stable above 23.6% of the UP FIB withdrawal level from USD 93,370 at a low level of up to USD 98,725.

The price of bitcoins is currently trading above USD 97,200, and a 100 -hour straight moving average. There is also a key stubborn trend line with support of nearly USD 97,600 on the BTC/USD hour pair chart.

On the other hand, immediate resistance is close to USD 98,500. The first key resistance is close to USD 98,800. The next key resistance can be 99,500 USD. Closing above the resistance 99,500 USD can cause a price boost. In the given case, the price may boost and test the resistance level of $ 100,000. Any profits can send a price to USD 100,500, and even USD 102,000.

Another BTC decrease?

If Bitcoin does not boost above the resistance zone of USD 98,800, it may start again. Immediate support in the minus is close to USD 97,500. The first earnest support is close to USD 96,500 and 50% of the FIB Request level up to 93 370 USD at a low level of up to USD 98,725.

The next support is now near the USD 95,500 zone. Any losses can send the price in relation to the support of USD 94,200 in the near future. The main support is USD 93,400.

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 97,500, and then 96,500 USD.

Main resistance levels – USD 98,500 and $ 100,000.