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Bitcoin price consolidates above the $ 95,000 support zone. BTC has to settle above the level of $ 100,000 to start a considerable increase in the short term.
- Bitcoin started a new increase compared to the $ 95,200 zone.
- The price is traded near $ 96,500 and the 100 -hour simple advancing average.
- There is a connecting bullish trend line that forms with support at $ 96,000 on the hourly table of the BTC/USD pair (data specialty).
- The couple could start another increase if it knew the $ 98,500 zone.
Bitcoin price eyes fresh increase
Bitcoin price remained in a range above the support level of $ 95,000. BTC tested the $ 95,200 zone. A layer was formed at $ 95,352 and the price recently started a new increase within a range.
There was a movement above the levels of $ 95,500 and $ 96,000. The price was and tested the 50% FIB retracement level of the downward movement of the $ 98,077 Swing high to $ 95,352 low. There is also a connecting bullish trend line that forms with support for $ 96,000 on the hour table of the BTC/USD pair.
Bitcoin Price is now traded near $ 96,500 and the 100 simple advancing average per hour. At the top is immediate resistance near the level of $ 96,700. The first key resistance is close to the $ 97,000 level or the 61.8% FIB retracement level of the downward movement of the $ 98,077 Swing high to $ 95.352 low.
The next key resistance can be $ 98,000. A close -up resistance of $ 98,000 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 98,500 tests. More profits can send the price to the level of $ 100,000 or even $ 100,500.
Another decline in BTC?
If Bitcoin does not rise above the $ 98,000 resistance zone, this can start a new decline. Immediate support on the disadvantage is close to the $ 96,000 level. The first major support is near the level of $ 95,500.
The next support is now near the $ 95,000 zone. More losses can send the price to the support of $ 93,500 in the short term. The most important support is at $ 92,200.
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 – $ 96,000, followed by $ 95,000.
Important resistance levels – $ 97,000 and $ 98,500.