Bitcoin price began another decrease from $ 102,500. BTC reduces the gains and struggles to stay over the 96500 support area.
- Bitcoin has started a new decrease less than $ 100,000.
- The price is traded to less than 99500 dollars and the average simple movement is 100 hours.
- There is a new landline line that is formed with resistance at $ 99,000 on the watch chart for the BTC/USD (data feeding from Kraken).
- The husband can start another increase if she remains over a $ 95500 area.
Bitcoin price decreased to less than 100,000 dollars
Bitcoin price failed to continue higher than the $ 102,500 region. Another decrease began less than the $ 100,000 region. BTC has gained a declining momentum of less than 98,500 dollars and $ 97500.
Bears paid the price to less than the level of FIB’s re -imitation by 50 % of the upward move from the decrease of 91,000 dollars to an increase of 102,500 dollars. The price even tested the 96,500 dollars support zone, and it is currently working to integrate the losses. There is also a new landline line that is formed with resistance at $ 99,000 on the watch chart for BTC/USD.
Bitcoin price is now trading to less than $ 98,000 and average simple movement 100 hours. On the upper side, the immediate resistance is approaching the level of $ 98,000. The first key resistance approaches the level of $ 99,000.
The following main resistance can be $ 100,000. The closure above the resistance of $ 100,000 may be the price up. In the specified case, the price and the resistance level test may rise 102,500 dollars. Any other gains may send the price towards the level of 103500 dollars.
More losses in BTC?
If Bitcoin fails to rise above the 99,000 dollar resistance area, it may start a new decrease. Immediate support on the negative side is near the level of $ 96500. The first main support is approaching the level of 95,500 dollars or the level of FIB’s decline by 61.8 % of the upward transition from the decrease of swing of $ 91,000 to an increase of 102,500 dollars.
Next support is now near 93,750 dollars. Any other losses may send the price to $ 95,500 in the short term.
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 – 96,500 dollars, followed by $ 95500.
Main resistance levels – $ 99,000 and $ 100,000.
