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Bitcoin remained supported over the $ 86,000 area. BTC is now integrating and may aim to move higher than the 88,000 dollar resistance area.
- Bitcoin has started a new recovery wave over the $ 86,800 area.
- The price is traded to less than 87200 dollars and the simple moving average is 100 hours.
- There is a major landing line formed with resistance at 88,000 dollars on the watch fee for the BTC/USD (data feeding from Kraken).
- The husband can start another increase if he wipes the level of $ 88,000 and 88,200 dollars.
Bitcoin price faces the main resistance
Bitcoin remained stable above the level of 85500 dollars. BTC has formed a base and recently began a higher recovery wave than the resistance level of $ 86,500.
The bulls paid the price above the resistance level 87,200 dollars. There was even a higher step than the RERNERDER 61.8 % of FIB to a declining movement of the alternative of $ 88,260 to a decrease of a wardrobe $ 85,852. However, the bears seem active below $ 88,000.
Bitcoin price is now trading to less than $ 87500 and average simple movement 100 hours. On the upper side, the immediate resistance is approaching the level of $ 87,700 and the REERERRERENING 76.4 % level of transition to the bottom of the twiny of $ 88,260 to 85,852 dollars.
The first key resistance approaches the level of $ 88,000. There is also a major downward trend line that is formed with resistance at $ 88,000 on the watch chart for BTC/USD. The following main resistance can be $ 88,250.
The closure may be above $ 88,250 to send the price up. In the specified case, the price and the resistance level test may rise 88,800 dollars. Any other gains may send the price about $ 90,000 or even 90,500 dollars.
Another decrease in BTC?
If Bitcoin fails to rise above the 88,000 dollar resistance area, it may start a new decrease. Immediate support on the negative side is near the level of $ 86,800. The first major support is near the level of $ 86400.
The next support is now near the $ 85,850 region. Any other losses may send the price to $ 85,000 in the short term. The main support sits at $ 84,500.
Technical indicators:
MACD every hour – MACD is now acquired in the Habboudia area.
RSI clock (RSI RSI) for BTC/USD is now less than 50 level.
Main support levels – $ 86,400, followed by $ 85,850.
Main resistance levels – $ 88,000 and 88,250 dollars.
