Bitcoin -price remains stable after drop – will there be a rebound?

Bitcoin price started a new fall below $ 90,000 zone. BTC is back below $ 88,500 and may have trouble regaining the Bullish Momentum.

• Bitcoin started a new fall under the $ 92,000 zone.
• The price is under $ 90,000 and the simple simple advancing average of 100 hours.
• There is a connecting Bearish trend line that forms with resistance to $ 91,000 on the hour table of the BTC/USD pair (data feed from Kraken).
• The couple can start a new decline if it does not remain above the $ 85,000 zone.

Bitcoin -Price is reserved

Bitcoin price started a new fall in the resistance level of $ 95,000. BTC traded under the support levels of $ 92,000 and $ 90,000. The price dived more than 10% and traded under the $ 88,000 support zone.

There was a clear movement below the 50% FIB racement level of the upward wave of $ 84,500 Swing low to $ 95,000 high. Finally, the price tested the $ 82,000 support zone. A base was formed and the price is now repairing some losses above the level of $ 83,500.

Bitcoin Price is now traded under $ 90,000 and the 100 -hour simple advancing average. At the top is immediate resistance near the level of $ 88,750. The first key resistance is near the level of $ 90,000.

The next key resistance can be $ 91,500. There is also a connecting Bearish trend line that forms with resistance at $ 91,000 on the hour table of the BTC/USD pair. A close -up resistance of $ 91,500 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 93,000 tests. More profits can send the price to the level of $ 94,200 or even $ 95,000.

Another decline in BTC?

If Bitcoin does not rise above the $ 90,000 resistance zone, this can start a new decline. Immediate support on the disadvantage is close to the $ 85,000 level. The first major support is near the level of $ 83,200.

The next support is now near the $ 82,250 zone and the 76.4% FIB retracement level of the upward wave of the $ 84,500 Swing Low to the $ 95,000 high. More losses can send the price in the short term to the support of $ 80,000. The most important support is $ 78,800.

Technical indicators:

MACD per hour – the MACD now loses pace in the Bearish zone.

Picly RSI (Relative strength -Index) -The RSI for BTC/USD is now above 50 -level.

Important support levels – $ 85,000, followed by $ 82,250.

Important resistance levels – $ 90,000 and $ 91,500.