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Bitcoin price began to decrease a new decrease and test the 103,200 dollar area. BTC is now integrating and may aim at a recovery wave of more than $ 106,000.
- Bitcoin has started a new decrease less than $ 106,500.
- The price is traded above 105,000 dollars and a simple moving average 100 hours.
- There is a declining directional line connected to resistance at $ 105550 on the watch fee for the BTC/USD (data feeding from Kraken).
- The husband can start a new increase if he wipes the resistance area of $ 106,000.
Bitcoin cuts in the upward direction
The price of Bitcoin began to decrease a new decrease and has been trading less than the 106,500 dollar support zone. BTC was traded even below $ 105500 and tested the following support at $ 10,200.
A decrease has been formed at 103,200 dollars and the prices are now enhancing losses. There was a higher step than $ 104200 and the level of FIB declining by 23.6 % than the last decrease in the tower, which cost $ 110,500 to a level less than 103,200 dollars.
Bitcoin is now trading over $ 105,000 and a simple moving average 100 hours. On the upper side, the immediate resistance is approaching the level of 105550 dollars. There is also a major downward trend line that is formed with resistance at $ 10550 on the watch chart for BTC/USD.
The first key resistance approaches the level of $ 106,000. The following key resistance can be 106,800 dollars. It is close to the REERERERMENT level by 50 % of the last decrease of the alternative of $ 110,500 to a decrease of $ 10,200.
The closure of the resistance, which is valued at $ 106,800, may send the price up. In the specified case, the price and the resistance level of the resistance level of $ 108,000 may rise. Any other gains may send the price to the level of $ 110,000.
Another drop in BTC?
If Bitcoin fails to rise over the 106,000 resistance area, it may start to decrease. Immediate support is near the level of $ 105,000. The first major support is near the level of $ 104200.
The next support is now near the $ 10,200. Any other losses may send the price towards $ 102,500 in the short term. The main support sits at 101,200 dollars, below, which may gain BTC dirty 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 – $ 105,000, followed by $ 104200.
Main resistance levels – 106,000 dollars and 106,800 dollars.
