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Bitcoin price is the consolidation of profits above $ 94,000 zone. BTC shows positive signs and can strive for a movement above the $ 95,500 resistance zone.
- Bitcoin remained supported above $ 93,500 zone.
- The price is traded above $ 94,000 and the simple simple advancing average of 100 hours.
- There is a connecting bullish trend line that forms with support at $ 94,200 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple can start a new increase if it knew the $ 95,500 zone.
Bitcoin Price Eyes Key Forward Pause
Bitcoin price remained stable above the level of $ 93,500 and started a new increase. BTC was able to climb above the resistance levels of $ 94,000 and $ 94,200.
The bulls could pump the price above the $ 95,200 resistance. The recent high was formed at $ 95,488 and the price started a downward correction. There was a decrease among the levels of $ 94,500 and $ 94,200. The price fell below the 50% FIB retracement level of the upward movement of the $ 92,900 Swing low to $ 95,488 high.
However, the bulls were active in the vicinity of the support of $ 93,500 and the 76.4% FIB retracement level of the upward movement of the $ 92,900 swing low to $ 95,488 high.
Bitcoin price is now traded above $ 94,200 and the 100 simple advancing average per hour. There is also a connecting bullish trend line that forms with support for $ 94,200 on the hour table of the BTC/USD pair.
At the top is immediate resistance near the level of $ 95,250. The first key resistance is near the level of $ 95,500. The next key resistance can be $ 96,250. A close -up resistance of $ 96,250 can further send the price. In the declared case, the price could rise and the resistance level of $ 97,500 tests. More profits can send the price to the level of $ 98,800.
Another decline in BTC?
If Bitcoin does not rise above the $ 95,500 resistance zone, this can start a new downward correction. Immediate support on the disadvantage is near the level of $ 94,200 and the trend line. The first major support is near the level of $ 93,500.
The next support is now near the $ 92,900 zone. More losses can send the price to the support of $ 92,500 in the short term. The most important support is at $ 91,200.
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 – $ 94,200, followed by $ 93,500.
Important resistance levels – $ 95,250 and $ 95,500.
