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Bitcoin price started a new increase above $ 80,000 zone. BTC now corrects profits and may have difficulty staying above the support of $ 79,500.
- Bitcoin started a new increase above $ 80,000 zone.
- The price is traded above $ 79,500 and the simple simple advancing average of 100 hours.
- There is a new connecting Beerarish trend line that forms with resistance at $ 80,500 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple could start a different increase if it knew the $ 80,500 zone.
Bitcoin -price is falling again
Bitcoin price started a new increase above $ 77,500 zone. BTC formed a basis and was given pace for a movement above the resistance levels of $ 79,500 and $ 80,000.
The bulls pumped the price above the resistance of $ 82,500. A high was formed at $ 83,548 and the price recently started a disadvantage correction. There was a movement under the support of $ 81,500. The price fell below the 23.6% FIB retraction level of the upward movement of the $ 74,572 Swing low to $ 83,548 high.
Bitcoin price is now traded above $ 79,200 and the 100 simple advancing average per hour. At the top is immediate resistance near the level of $ 80,500. There is also a new connecting Beerarish trend line that forms with resistance at $ 80,500 on the hourly table of the BTC/USD pair.
The first key resistance is near the level of $ 81,500. The next key resistance can be $ 82,500. A close -up resistance of $ 82,500 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 83,500 tests. More profits can send the price to the $ 85,000 level.
More losses in BTC?
If Bitcoin does not rise above the $ 80,500 resistance zone, this can continue to move. Immediate support on the disadvantage is near the level of $ 79,500. The first major support is near the level of $ 79,000 and the 50% FIB retracement level of the upward movement of the $ 74,572 Swing low to $ 83,548 high.
The next support is now near the $ 78,000 zone. More losses can send the price to the support of $ 76,500 in the short term. The most important support is $ 75,000.
Technical indicators:
HORLY MACD – The MACD now loses pace in the bullish zone.
Picly RSI (Relative strength -Index) -The RSI for BTC/USD is now above 50 -level.
Important support levels – $ 79,500, followed by $ 79,000.
Large resistance levels – $ 80,500 and $ 81,500.
