Bitcoin price started a new upward step over the 98,000 dollar area. BTC cuts the losses but may struggle to settle over the area of $ 103,000.
- Bitcoin has started a new upward step above the level of $ 100,000.
- The price is traded above 99,500 dollars and the simple moving average is 100 hours.
- There was a break over the main dumping line with resistance at 96,000 dollars on the watch chart for the BTC/USD (data feeding from KAKEN).
- The husband can start another increase if she remains above the area of $ 100,000.
Bitcoin regains $ 100,000
Bitcoin price began another decrease than the 95,000 dollar area. BTC has gained a declining momentum for a lower step than 93,500 dollars and $ 92,000. It has even decreased less than $ 91,000.
A decrease was formed at $ 90,944 and the price recently started a decent recovery wave. There was a step above 95500 dollars. The price has scanned 50 % of the move to the bottom of the alternative of $ 106,000 to a level less than 90,945 dollars.
Moreover, there was a break over the main landline line with resistance at 96,000 dollars on the watch chart for BTC/USD. The Bitcoin price is now trading over $ 98,000 and the simple moving average is 100 hours.
On the upper side, the immediate resistance is approaching the level of $ 102,000. The first key resistance near the level of 102,500 dollars approaches or the FIB decline level by 76.4 % of the declining move from an increase of 106,000 dollars to a level less than 90,945 dollars. The following key resistance can be 103,200 dollars.
The closure of the higher resistance of $ 103,200 may send the price to the top. In the specified case, the price and the resistance level of the resistance level of $ 105,000 may rise. Any other gains may send the price to a level of $ 107,000.
Another decrease in BTC?
If Bitcoin fails to rise above the 103200 dollar resistance area, it may start a new decrease. Immediate support on the negative side approaches the level of $ 100500. The first major support is near the level of $ 100,000.
The next support is now near the $ 98,000 region. Any other losses may send the price to support 96,500 dollars in the near term.
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 – 100,500 dollars, followed by $ 100,000.
Main resistance levels – $ 102,000 and $ 10,200.
