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Bitcoin price remained supported above $ 86,000 zone. BTC is now consolidating and can strive for a movement above the $ 88,000 resistance zone.
- Bitcoin started a new wave of recovery above $ 86,800 zone.
- The price is traded under $ 87,200 and the simple simple advancing average of 100 hours.
- There is an important bearish trend line that forms with resistance to $ 88,000 on the hourly table of the BTC/USD pair (data specialty).
- The couple can start a new increase if it knew the $ 88,000 and $ 88,200 levels.
Bitcoin price is confronted with key resistance
Bitcoin price remained stable above the level of $ 85,500. BTC formed a basis and recently started a recovery wave above the resistance level of $ 86,500.
The bulls pushed the price above the resistance level of $ 87,200. There was even a movement above the 61.8% FIB retracement level of the downward movement of the $ 88.260 Swing high to $ 85,852 Swing low. However, the bears seem to be active below the level of $ 88,000.
Bitcoin price is now traded under $ 87,500 and the 100 simple advancing average per hour. At the top is immediate resistance near the level of $ 87,700 and the 76.4% FIB retracement level of the downward movement of the $ 88,260 Swing high to $ 85,852 Swing Low.
The first key resistance is near the level of $ 88,000. There is also an important bearish trend line that forms with resistance to $ 88,000 on the hour table of the BTC/USD pair. The next key resistance can be $ 88,250.
A close -up resistance of $ 88,250 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 88,800 tests. More profits can send the price to the level of $ 90,000 or even $ 90,500.
Another decline in BTC?
If Bitcoin does not rise above the $ 88,000 resistance zone, this can start a new decline. Immediate support on the disadvantage is near the level of $ 86,800. The first major support is near the level of $ 86,400.
The next support is now near the $ 85,850 zone. More losses can send the price in the short term to the support of $ 85,000. The most important support is $ 84,500.
Technical indicators:
MACD per hour – The MACD now wins pace in the bearish zone.
Picly RSI (relative strength -index) -The RSI for BTC/USD is now below the 50 -level level.
Important support levels – $ 86,400, followed by $ 85,850.
Important resistance levels – $ 88,000 and $ 88,250.
