The Bitcoin Prize began a new ascending movement above $ 103,200. BTC now corrects gains and could review the $ 102,000 support area.
- Bitcoin began a decent ascending movement above the $ 103,200 zone.
- The price is negotiated over $ 103,000 and the single mobile average of 100 hours.
- There is an upward key trend line with $ 103,500 support on the time table of the BTC / USD pair (Kraken data flow).
- The pair could start another increase if it remains above the $ 102,000 area.
Bitcoin Price recovers above $ 102,000
The price of bitcoin began a decent increase above the $ 101,500 resistance zone. BTC was able to exceed the resistance levels of $ 102,200 and $ 103,200 to move to a positive area.
He even erased the resistance zone of $ 104,500. The pair has settled in a positive area and is now facing obstacles near the $ 106,500 area. A summit was formed at $ 106,414 and the price now corrects the gains. There was a movement below $ 105,000.
It now tests the FIB level of retracement of 23.6% of the move upwards Balançoire of $ 97,688 at a low level of $ 106,414. The Bitcoin price is now traded over $ 103,000 and the single mobile average of 100 hours.
There is also a line of upward trend forming with a support at $ 103,500 on the time table of the BTC / USD pair. Uplining, immediate resistance is close to the level of $ 105,500. The first resistance of the keys is close to the level of $ 106,500. The next resistance of the keys could be $ 107,000.
A fence greater than the resistance of $ 107,000 could send the higher price. In the indicated case, the price could increase and test the resistance level by $ 108,800. Other gains could send the price at $ 110,000.
Another drop in the BTC?
If Bitcoin does not exceed the resistance zone of $ 105,000, this could start a new drop. Immediate downward support is close to the level of $ 103,500. The first major medium is close to the level of $ 102,500 and the FIB trace level at 50% of the switching of the swing of $ 97,688 at a higher level of $ 106,414.
The next support is now close to $ 102,000 zone. Other losses could send the price to the support of $ 100,500 in the short term.
Technical indicators:
MacD Schedule – The MacD is now losing a rhythm in the Haussier zone.
Schedule RSI (Relative resistance index) – The RSI for BTC / USD is now higher than level 50.
Major support levels – $ 103,500, followed by $ 102,500.
Major resistance levels – $ 105,500 and $ 106,500.