The price of Bitcoin began another drop below the $ 96,200 zone. BTC resets the support area of $ 95,000 and may have trouble recovering the losses.
- Bitcoin started a new drop compared to the $ 97,500 area.
- The price is negotiated below $ 96,200 and the single mobile average of 100 hours.
- There is a wrestling trend line forming with resistance at $ 96,000 on the time graph of the BTC / USD pair (Kraken data flow).
- The pair could start another increase if it remains above the $ 95,000 area.
The price of bitcoin drops further
The price of Bitcoin failed to erase the $ 98,500 and $ 98,000 in resistance. BTC formed a summit and started a new drop below $ 96,500. There was a clear movement below the level of support of $ 96,200.
The price has even dropped below $ 95,000. However, the Bulls appeared nearly $ 93,400. A hollow was formed at $ 93,388 and the price is now trying to recover. There was a decision above the level of $ 95,000. The price released the FIB trace level of 23.6% of the downward move from $ 98,825 at the bottom of $ 93,288.
The Bitcoin Prize is now negotiated below $ 96,200 and the 100 hours on the simple mobile average. Uplining, immediate resistance is close to the level of $ 96,000. There is also a wrestling trend line forming with resistance at $ 96,000 on the time table of the BTC / USD pair.
The first resistance of the keys is close to the level of $ 96,200 or the level of FIB retracement at 50% of the movement down of the swing of $ 98,825 at the bottom of the $ 93,288. The next keys could be $ 96,750.
A fence greater than the resistance of $ 96,750 could send the higher price. In the indicated case, the price could increase and test the resistance level by $ 97,500. Other gains could send the price at $ 98,200, or even $ 98,500.
No more BTC losses?
If Bitcoin does not exceed the resistance zone of $ 96,000, this could start a new drop. Immediate downward support is close to the level of $ 95,000. The first major support is close to the level of $ 94,200.
The next support is now close to the $ 93,400 area. Other losses could send the price to the support of $ 9,200 in the short term. The main support is at $ 91,000.
Technical indicators:
MacD Schedule – The MacD is now losing a pace in the lower area.
Schedule RSI (Relative force index) – The RSI for BTC / USD is now lower than level 50.
Major support levels – $ 95,000, followed by $ 94,200.
Major resistance levels – $ 96,000 and $ 98,000.
