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Bitcoin Price started another fall below $ 96,200 zone. BTC restores the $ 95,000 support zone and may have difficulty recovering losses.
- Bitcoin started a new decrease of the $ 97,500 zone.
- The price is traded under $ 96,200 and the simple simple advancing average of 100 hours.
- There is an important bearish trend line that forms with resistance to $ 96,000 on the hourly table of the BTC/USD pair (data specialty).
- The couple can start a new increase if it remains above $ 95,000 zone.
Bitcoin -price drops further
Bitcoin price cannot delete the resistance levels of $ 98,500 and $ 98,000. BTC was a top and started a new fall below the level of $ 96,500. There was a clear movement below the support level of $ 96,200.
The price even fell below the $ 95,000 level. However, the Bulls appeared almost $ 93,400. A low point was formed at $ 93,388 and the price is now trying to recover. There was a movement above the level of $ 95,000. The price knew the 23.6% FIB racement level of the downward movement of the $ 98,825 Swing high to $ 93.288 low.
Bitcoin price is now traded under $ 96,200 and the 100 simple advancing average per hour. At the top is immediate resistance near the level of $ 96,000. There is also an important bearish trend line that forms with resistance at $ 96,000 on the hour table of the BTC/USD pair.
The first key resistance is near the $ 96,200 level or the 50% FIB retracement level of the downward movement of the $ 98,825 Swing high to $ 93.288 low. The next key resistance can be $ 96,750.
A close -up resistance of $ 96,750 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 $ 98,200 or even $ 98,500.
More losses in BTC?
If Bitcoin does not rise above the $ 96,000 resistance zone, this can start a new decline. Immediate support on the disadvantage is near the level of $ 95,000. The first major support is near the level of $ 94,200.
The next support is now near the $ 93,400 zone. More losses can send the price in the short term to the support of $ 92,200. The most important support is $ 91,000.
Technical indicators:
MACD per hour – the MACD now loses pace in the Bearish zone.
Picly RSI (relative strength -index) -The RSI for BTC/USD is now below the 50 -level level.
Important support levels – $ 95,000, followed by $ 94,200.
Important resistance levels – $ 96,000 and $ 98,000.