The price of Bitcoin began a new drop below $ 100,000 zone. BTC is down almost 10% and could test the support area of $ 90,000.
- Bitcoin started a new drop below $ 100,000 level.
- The price is negotiated below $ 99,500 and the single single mobile average of 100 hours.
- There is a wrestling trend line forming with resistance at $ 96,200 on the time graph of the BTC / USD pair (Kraken data flow).
- The pair could start another increase if it remains above the $ 90,000 area.
Bitcoin Price plunges below $ 100,000
Bitcoin Price started another drop below $ 100,000. BTC has taken a downward momentum for a movement below $ 98,000 and $ 95,000. He even dived below $ 93,000.
A hollow was formed at $ 90,944 and the price is now consolidated losses. There was a minor increase above $ 92,500. The price even tested the FIB trace level of 23.6% of the downwinding movement of $ 106,000 at $ 90,944. However, the Bears are now active near the $ 95,000 area.
Bitcoin Price is now negotiated below $ 95,000 and the 100 hours on the simple mobile average. Uplining, immediate resistance is close to $ 95,000 level. The first resistance of the keys is close to the level of $ 96,500. There is also a lower key trend line with resistance at $ 96,200 on the time table of the BTC / USD pair.
The next resistance of the keys could be $ 98,400 or the FIB trace level at 50% of the movement down the swing from $ 106,000 to $ 90,944. A closing greater than the resistance of $ 98,500 could send the higher price. In the indicated case, the price could increase and test the resistance level by $ 96,800. Other gains could send the price at $ 100,000.
Another drop in the BTC?
If Bitcoin does not exceed the resistance zone of $ 95,000, this could start a new drop. Immediate downward support is close to the level of $ 92,500. The first major support is close to the level of $ 92,000.
The next support is now close to the $ 90,000 area. Other losses could send the price to the support of $ 88,500 in the short term.
Technical indicators:
MacD Schedule – The MacD is now gaining a pace in the lower area.
Schedule RSI (Relative force index) – The RSI for BTC / USD is now lower than level 50.
Major support levels – $ 92,500, followed by $ 90,000.
Major resistance levels – $ 95,000 and $ 96,500.