Bitcoin price started a new upward step above $ 102,000. BTC rises and may gain a speed of a move higher than the 105,000 dollar resistance area.
- Bitcoin has started a decent ascending step over the $ 102,000 area.
- The price is traded above 103,500 dollars and a simple moving average 100 hours.
- There was a break over the main dumping line with resistance at $ 102400 on the watch chart for the BTC/USD (data feeding from Kraken).
- The husband can start another decrease if it remains less than the $ 105,000 region.
Bitcoin price breaks resistance
Bitcoin price has started a higher increase than the $ 100,000 resistance area. BTC managed to exceed the resistance level of $ 102,000 and $ 102,200 to move to a positive area.
There was a break over the main dumping line with resistance at 102,400 dollars on the watch chart for the BTC/USD pair. The pair increased above the FIB re -declining level by 61.8 % of the descending wave from an increase of $ 107,080 to a level less than 97,688 dollars. It even wiped the resistance area 103,500 dollars.
The couple settled in a positive area and is now facing obstacles near the area of $ 105,000. Bitcoin price is now trading over $ 103,000 and a simple moving average 100 hours. On the upper side, the immediate resistance is approaching the level of 104,800 dollars or the level of retreating from the FIB 76.4 % of the dumping wave of the top of 107,080 dollars to a level less than 97,688 dollars.
The first key resistance approaches the level of $ 105,000. The following key resistance can be 105,500 dollars. The closure may be above the resistance of $ 105,500 sends the price up. In the aforementioned case, the price and the resistance level tested of $ 107,000 may rise. Any other gains may send the price about $ 108,800 in the short term.
Another decrease in BTC?
If Bitcoin fails to rise over the 105,000 -dollar resistance area, it may start a new decrease. Immediate support on the negative side is near the level of $ 10,200. The first major support is near the level of $ 102,000.
The next support is now near the $ 101,200 region. Any other losses may send the price to the support of $ 100,000 in the short 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 – 103200 dollars, followed by $ 102,000.
Main resistance levels – $ 105,000 and $ 107,000.
