Bitcoin PRICE SIDEWAIS Action Build – Will the bulls interfere after a slight decline?
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Bitcoin price has started a new increase over the area of 106,500 dollars. BTC is now integrating and may aim to move higher than the 108,000 dollar resistance.
- Bitcoin has started a new increase over the 106,500 dollar area.
- The price is traded above 106,500 dollars and the simple moving average is 100 hours.
- There was a break below the bullish direction line with support at $ 107,300 on the watch fee for the BTC/USD (data feeding from Kraken).
- The husband can start with a new increase if she remains over the area of $ 105500.
Bitcoin price faces resistance
Bitcoin price has started a new increase over the area of 104,200 dollars. BTC gained a pace and managed to climb over the level of $ 105,000 and 105500 dollars to enter a positive area.
Bulls paid the price above 106,500 dollars, and the price was a 108,150 dollar area. A height has been formed at $ 108165 and the prices are now for the gains. There was a lower break from the bullish direction line with support at $ 107,300 on the watch chart for the BTC/USD pair.
However, the price has remained higher than the RENDRACTION level 23.6 % of the upward transition of oscillation of 98,272 dollars to an increase of 108165 dollars. Bitcoin is now trading $ 106,000 and average simple movement 100 hours.
On the upper side, the immediate resistance is approaching the level of 107,800 dollars. The first key resistance near the level of $ 108150 or the FIB 1.236 extension level is approaching the declining move from the highest level at 106,470 dollars to a level less than 98,276 dollars. The closure may be above the resistance of $ 108,150 sends the price up. In the specified case, the price and the resistance level of the resistance level of $ 110,000 may rise. Any other gains may send the price to the level of $ 112,000.
A declining reaction in BTC?
If Bitcoin fails to rise over the resistance area of $ 108,150, it may start to decrease. Immediate support is near the level of 105,800 dollars. The first major support is near the level of $ 105,000.
The next support is now near the $ 103,200 and the REERRERENT 50 % of FIB to move up from the oscillation decrease of 98,272 dollars to an increase of 108165 dollars. 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 losing a pace in the upper area.
RSI clock (RSI RSI) for BTC/USD is now less than 50 level.
Main support levels – 105,800 dollars, followed by $ 10,500.
Main resistance levels – 107,800 dollars and 108,150 dollars.
