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Bitcoin price began a new decrease from $ 90,000. BTC has returned to less than 82,500 dollars and may continue to move to less than $ 78,000.
- Bitcoin has started a new decrease less than $ 82,000.
- The price is traded to less than 80,000 dollars and the average simple movement is 100 hours.
- There is a major landing line formed with resistance at 82200 dollars on the watch chart for the BTC/USD (data feeding from Kraken).
- The husband can start another decrease if it fails to scan the 82,000 dollar resistance area.
Bitcoin price faces obstacles
Bitcoin price has started a new decrease less than $ 85,000. BTC is trading less than $ 83,000 and $ 80,000 support levels. Finally, the price tested the $ 76,500 support area.
A decrease was formed at $ 76,818 and the price recently started a standardization stage. There was a higher step than the resistance level of $ 78,000 and $ 78,500. Bulls paid the price towards the RENDARACTION level 23.6 % of FIB to move from a 91,060 dollar swing higher to $ 76,818.
Bitcoin price is now trading to less than $ 80,000 and average simple movement 100 hours. On the upper side, the immediate resistance is approaching the level of $ 80,200. The first key resistance approaches the level of $ 82,000.
There is also a major landing line that is formed with resistance at 82200 dollars on the watch chart for the BTC/USD pair. The following main resistance can be $ 84,000. It is close to the refulrab level by 50 % of the declining movement of 91,060 dollars to a level less than 76,818 dollars.
The closure above the resistance of $ 84,000 may send the price up. In the aforementioned case, the price and the resistance level test may rise 85,500 dollars. Any other gains may send the price about $ 88,000 or even 96200 dollars.
Another drop in BTC?
If Bitcoin fails to rise above the 82,000 dollar resistance area, it may start a new decrease. Immediate support on the negative side is near the level of $ 77,200. The first major support is near the 76500 dollar level.
Next support is now near $ 75,000. Any other losses may send the price to $ 72,000 in the short term. The main support sits at $ 70,000.
Technical indicators:
Every MACD – MACD now loses a pace in the Habboudi area.
RSI clock (RSI RSI) for BTC/USD is now less than 50 level.
Main support levels – $ 76,500, followed by $ 75,000.
Main resistance levels – $ 80,000 and $ 82,000.
