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Bitcoin Price began a new push over the $ 102,500 area. BTC now corrects the gains and is negotiated below the resistance zone of $ 103,500.
- Bitcoin started a sharp increase above the resistance area of $ 102,500.
- The price is negotiated below $ 104,000 and the single single mobile average of 100 hours.
- There has been a break below a new bullish connection line with a support at $ 103,900 on the time table of the BTC / USD pair (Kraken data flow).
- The pair could start another increase if it erases the $ 103,500 area.
The price of bitcoin corrects certain gains
The price of Bitcoin began a new increase From the $ 98,500 support area. BTC formed a base and was able to clean the resistance area of $ 100,000. The Bulls even pushed the price above $ 103,000.
The pair increased above $ 105,500 and tested $ 105,800. A summit is formed at $ 105,728 and the price is now corrected gains. There has been a movement below the FIB retracement level of 23.6% of the upward movement from the bottom of $ 95,825 to a high of $ 105,728.
There was a break below a new bull’sity trend line with a support at $ 103,900 on the time table of the BTC / USD pair. Bitcoin is now negotiated below $ 104,500 and the single mobile average of 100 hours.
However, the Bulls are now active near the support of $ 100,800 and protecting the FIB trace level at 50% of the moving upwards of $ 95,825 at a level higher of $ 105,728. Uplining, immediate resistance is close to the level of $ 103,500. The first resistance of the keys is close to the level of $ 104,000.
The next key resistance could be $ 105,000. A higher fence of the resistance of $ 105,000 could send the higher price. In the indicated case, the price could increase and test the resistance level by $ 106,000. Other gains could send the price at $ 108,000.
No more BTC losses?
If Bitcoin does not exceed the resistance zone of $ 103,500, it could start another decline. Immediate downward support is close to the level of $ 101,500. The first major support is close to the level of $ 100,800.
The next support is now close to the $ 100,000 area. Other losses could send the price to the support of $ 98,800 in the short term. The main support is $ 97,500.
Technical indicators:
MacD Schedule – The MacD is now losing a rhythm in the Haussier zone.
Schedule RSI (Relative force index) – The RSI for BTC / USD is now lower than level 50.
Major support levels – $ 101,500, followed by $ 100,800.
Major resistance levels – $ 103,500 and $ 105,000.
