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Bitcoin Price began a recovery wave over the $ 80,000 area. BTC is now increasing and could target a decision above levels of $ 84,000 and $ 85,000.
- Bitcoin started a decent recovery wave over the $ 80,000 area.
- The price is negotiated over $ 82,000 and the single 100-hour mobile average.
- There is an upward connection line line that forms with $ 82,000 support on the time table of the BTC / USD pair (Kraken data flow).
- The pair could start another increase if it erases levels of $ 84,000 and $ 85,000.
Bitcoin Price Eyes Breakout
The price of Bitcoin remained hard above $ 78,000. BTC formed a base and recently started a recovery wave Above the resistance level of $ 80,000.
The Bulls pushed the price above the resistance level of $ 82,000. The price has exceeded the FIB level of trace of 23.6% of the downwind, from the $ 91,060 swing at $ 76,820. However, bears are now active near the resistance area of $ 84,000.
The Bitcoin Prize is now negotiated over $ 82,000 and the 100 hours on the simple mobile average. There is also a connected trend line which is formed with a support at $ 82,000 on the time table of the BTC / USD pair.
Right up, immediate resistance is close to the level of $ 84,000 and the FIB retracement level at 50% of the downward wave, from the swing from $ 91,060 to $ 76,820. The first resistance of the keys is close to the level of $ 85,000. The next key resistance could be $ 85,650.
A closing greater than the resistance of $ 85,650 could send the higher price. In the indicated case, the price could increase and test the resistance level by $ 86,500. Other gains could send the price at $ 88,000, or even $ 96,200.
Another drop in BTC?
If Bitcoin does not exceed the resistance zone of $ 84,000, this could start a new drop. Immediate downward support is close to the level of $ 82,000 and the trend line. The first major support is close to the level of $ 81,200.
The next support is now close to the $ 80,000 area. Other losses could send the price to the support of $ 78,000 in the short term. The main support is $ 76,500.
Technical indicators:
MacD Schedule – The MacD now wins the pace in the bullish area.
Schedule RSI (Relative resistance index) – The RSI for BTC / USD is now higher than level 50.
Major support levels – $ 82,000, followed by $ 81,200.
Major resistance levels – $ 84,000 and $ 85,000.