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Bitcoin price began a new decrease from $ 92,000. BTC has returned to less than 85,500 dollars and may continue to move to less than $ 80,000.
- Bitcoin has started a new decrease less than the $ 85,000 region.
- The price is traded to less than 85,000 dollars and the average simple movement is 100 hours.
- There is a short -term declining trend line that is formed with resistance at $ 8,200 on the watch chart of the BTC/USD (data feeding from KAKEN).
- The husband can start another decrease if it fails to scan the 80,000 -dollar resistance area.
Bitcoin price faces resistance
Bitcoin price has started a new decrease less than $ 88,000. BTC was trading less than $ 86,000 and support levels of $ 85,000. Finally, the price tested the support area of $ 80,000.
A decrease was formed at $ 80,006 and the price has recently started the recovery wave. There was a higher step than the resistance level 80,500 and 81200 dollars. The bulls paid the price towards the RERRERRERDING level 23.6 % of the FIB to move down from the 91,060 dollar swing up to 80,006 dollars.
Bitcoin price is now trading to less than $ 85,000 and a simple moving average 100 hours. On the upper side, the immediate resistance approaches the level of $ 82700. The first main resistance is located near the level of $ 83,000.
There is also a short -term declining trend line that is formed with resistance at 83,200 dollars on the watch chart for the BTC/USD pair. The following main resistance can be $ 85,000. It is near RERLERRERERP 50 % of the declining move from the 91,060 dollar hallway to a low level of 80,006 dollars.
The closure above the $ 85,000 resistance may send the price up. In the aforementioned case, the price and the resistance level test may rise 87,500 dollars. Any other gains may send the price about $ 90,000 or even 96200 dollars.
Another decrease in BTC?
If Bitcoin fails to rise over the 83,000 -dollar resistance area, it may start a new decrease. Immediate support on the negative side is near the level of $ 81,000. The first major support is near the level of $ 80,200.
Next support is now near $ 80,000. Any other losses may send the price to $ 78,000 in the short term. The main support sits at $ 75,000.
Technical indicators:
Every MACD – MACD now loses a pace in the Habboudi area.
RSI clock (RSI RSI) for BTC/USD is now less than 50 level.
Main support levels – $ 80,000, followed by $ 78,000.
Main resistance levels – $ 83,000 and $ 85,000.
