Bitcoin price started a new increase in $ 102,000 zone. BTC rises and can strive for a movement in the direction of $ 107,500 resistance.
- Bitcoin started a strong increase above the $ 100,500 resistance zone.
- The price is traded above $ 102,500 and the simple simple advancing average of 100 hours.
- There is a new connecting bullish trend line that forms with support at $ 103,500 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple can start a different increase if it knew the $ 105,000 zone.
Bitcoin -Price strives for more profit
Bitcoin price started a new increase compared to the $ 96,500 support zone. BTC formed a basis and was able to erase the $ 98,800 resistance zone. The bulls even pushed the price above $ 102,000.
The pair was above $ 104,500 and tested $ 105,000. A high is formed at $ 104,943 and the price now consolidates the profits above the 23.6% FIB retracement level of the upward movement of the $ 95,825 Swing low to $ 104,943 High.
Bitcoin is now traded above $ 103,500 and the 100 simple advancing average per hour. There is also a new connecting bullish trend line that forms with support for $ 103,500 on the hour table of the BTC/USD pair.
At the top is immediate resistance near the level of $ 104,500. The first key resistance is near the level of $ 105,000. The next key resistance can be $ 105,500. A close -up resistance of $ 105,500 can further send the price. In the indicated case, the price can rise and the resistance level of $ 106,200 tests. More profits can send the price to the $ 108,000 level.
Are dips supported in BTC?
If Bitcoin does not rise above the $ 104,500 resistance zone, this can start a new downward correction. Immediate support on the disadvantage is near the level of $ 103,500 and the trend line. The first major support is near the level of $ 102,800.
The next support is now near the $ 100,500 zone and the 50% FIB retracement level of the upward movement of the $ 95,825 Swing low to $ 104,943 High. More losses can send the price in the short term to the support of $ 98,800. The most important support is at $ 97,500.
Technical indicators:
MACD per hour – The MACD now wins pace in the bullish zone.
Picly RSI (Relative strength -Index) -The RSI for BTC/USD is now above 50 -level.
Important support levels – $ 103,500, followed by $ 102,800.
Important resistance levels – $ 104,500 and $ 105,000.
