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Bitcoin price slowly moves higher above $ 83,500 zone. BTC must delete the $ 85,200 resistance zone to stay higher in the short term.
- Bitcoin found support for $ 83,200 and started a recovery wave.
- The price is traded above $ 84,500 and the simple simple advancing average of 100 hours.
- There was a break above a connecting bearish trend line with resistance at $ 84,650 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple could start another increase if it knew the $ 85,200 zone.
Bitcoin Price eyes fresh upside down
Bitcoin price started a new decrease under the levels of $ 86,200 and $ 85,500. BTC even dropped below the $ 84.00 level before the bulls appeared.
The price tested the support of $ 83,200. A low point was formed at $ 83,171 and the price recently started a recovery wave. The price climbed above the $ 84,500 resistance zone. There was a break above the 50% FIB racement level of the downward movement of the $ 86,400 Swing high to $ 83.171 low.
In addition, there was a break above a connecting bearish trend line with resistance at $ 84,650 on the hour table of the BTC/USD pair. Bitcoin price is now traded above $ 84,500 and the 100 simple advancing average per hour.
At the top is immediate resistance near the level of $ 85,200. It is close to the 61.8% FIB retraction level of the downward movement of the $ 86,400 Swing high to $ 83.171 low. The first key resistance is near the level of $ 85,500. The next key resistance can be $ 86,500.

A close -up resistance of $ 86,500 can further send the price. In the indicated case, the price could rise and the resistance level of $ 87,200 tests. More profits can send the price to the level of $ 88,800.
Another decline in BTC?
If Bitcoin does not rise above the $ 85,200 resistance zone, this can start a decrease. Immediate support on the disadvantage is near the level of $ 84,500. The first major support is near the level of $ 84,000.
The next support is now near the $ 83,200 zone. More losses can send the price to the support of $ 82,500 in the short term. The most important support is at $ 81,800.
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 – $ 84,500, followed by $ 83,200.
Important resistance levels – $ 85,200 and $ 85,500.