The price of the Bitcoin wave began higher than the $ 105,000 region. BTC is now integrating and you may try to wipe the resistance of $ 106,500.
- Bitcoin has started a recovery wave over $ 105,000.
- The price is traded above 105,000 dollars and a simple moving average 100 hours.
- There is a bullish trend line that is formed with support at 105,350 dollars on the watch chart for the BTC/USD (data feeding from Kraken).
- The husband can start a new decrease if broke the support area of $ 104,000.
Increase the price of bitcoin increased
The price of Bitcoin began to decrease a new decrease and has been trading less than the 102,500 support zone. BTC was trading near the $ 100,000 area before the bulls appeared.
The price decrease and recovery of the price is formed higher than the resistance of $ 103,500. Even the bulls paid the price over the resistance of $ 105,000. An increase has been formed at 106,426 dollars, and the price now unifies the gains that exceed the level of RERERERRERDING 23.6 % of the upward transition from the tower decrease of $ 100 to an increase of 106,426 dollars.
Bitcoin is now trading over $ 105,000 and a simple moving average 100 hours. There is also a bullish trend line that is formed with support at $ 105,350 on the watch chart for the BTC/USD pair.
On the upper side, the immediate resistance is approaching the level of 106200 dollars. The first main resistance is located near the level of 106500 dollars. The following key resistance can be $ 10,7600. The closure of 107,600 dollars resistance may send the price up. In the aforementioned case, the price and the resistance level test may rise 108,800 dollars. Any other gains may send the price to the level of $ 110,000.
Another decrease in BTC?
If Bitcoin fails to rise above the 106200 dollar resistance area, it may start another decrease. Immediate support is approaching the level of 105200 dollars and the direction line. The first main support is approaching the level of $ 103,500 and the FIB decline level by 50 % of the upward transition from the decrease of oscillation of $ 100400 to an increase of 106,426 dollars.
Next support is now near $ 102,000. Any other losses may send the price to the support of $ 100500 in the short term. The main support sits at $ 100,000, below may gain BTC with a declining momentum.
Technical indicators:
MACD every hour – MACD is now acquired in the upscale area.
RSI clock (RSI) RSI for BTC/USD now higher than 50 level.
Main support levels – $ 10,200, followed by $ 103,500.
Main resistance levels – 106200 dollars and 107600 dollars.
