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Bitcoin price is moving slowly higher than an area of $ 86,500. BTC acquires a pace and may continue in the short term.
- Bitcoin found support at $ 8,4200 and the recovery wave began.
- The price is traded above 85,500 dollars and a simple moving average 100 hours.
- There was a break over the landline line connected to the resistance at $ 85,000 on the watch chart for the BTC/USD (data feeding from Kraken).
- The husband can start another increase if he wipes the area of $ 88,000.
Bitcoin price is fixed increase
Bitcoin remained stable above the level of 83200 dollars and started a new increase. BTC managed to climb over the resistance levels of $ 84200 and $ 85,000.
There was a break over the landline line connected to the resistance at $ 85,000 on the watch chart for the BTC/USD pair. The bulls were able to pump the price over 86,500 dollars. It even rose above 87,000 dollars. A rise near 87,562 dollars is formed, and the price may continue to rise unless there is a step less than the RERERERRERDING 23.6 % of the upward transition from an increase of 84,007 dollars to an increase of $ 87562.
Bitcoin price is now trading above $ 86,500 and a simple moving average 100 hours. On the upper side, the immediate resistance is approaching the level of $ 8,7500. The first key resistance approaches the level of $ 88,000.
The following key resistance can be $ 88,800. The closure of the resistance of $ 8,800 may send the price up. In the specified case, the price and the resistance level test may rise 89,500 dollars. Any other gains may send the price about $ 90,000.
Correct the negative side in BTC?
If Bitcoin fails to rise above the 88,000 dollar resistance area, it may start a negative correction. Immediate support on the negative side is near the level of $ 87,000. The first major support is near the level of $ 86,750.
The next support is now near the $ 86,000 region. Any other losses may send the price towards $ 85,750 or a 50 % decline in FIB’s decline in the bullish transition from the lower tower of $ 84,007 to 87,562 dollars in the short term. The main support sits at $ 84,850.
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 – $ 86,750, followed by $ 86,000.
Main resistance levels – $ 8,7500 and $ 88,000.
