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Bitcoin price started a recovery wave from the $ 81,200 zone. BTC consolidates losses and is confronted with obstacles near the resistance level of $ 83,500.
- Bitcoin started a decent wave above $ 82,200 zone.
- The price is traded under $ 83,200 and the simple simple advancing average of 100 hours.
- There is a connecting Bearish trend line that forms with resistance at $ 83,500 on the hourly table of the BTC/USD pair (data specialty).
- The couple could start another increase if it knew the $ 83,500 zone.
Bitcoin -Price is reserved
Bitcoin price extended losses under the $ 82,500 support zone and tested the $ 81,200 zone. BTC formed a basis and recently started a decent wave of recovery above the $ 82,200 resistance zone.
The bulls could push the price above the resistance levels of $ 82,500 and $ 83,000. The price even tested the 23.6% FIB racement level of the recent decrease of the $ 89,042 Swing high to $ 81.177 Low. However, the price is struggling to stay higher.
Bitcoin price is now traded under $ 83,500 and the 100 simple advancing average per hour. At the top is immediate resistance near the level of $ 83,200. The first key resistance is near the level of $ 83,500. There is also a connecting Bearish trend line that forms with resistance at $ 83,500 on the hour table of the BTC/USD pair.
The next key resistance can be $ 84,500. A close -up resistance of $ 84,500 can further send the price. In the declared case, the price could rise and the resistance level of $ 85,500 tests. More profits can send the price to the $ 86,000 level or 61.8% FIB retracement level of the recent decrease of the $ 89,042 Swing high to $ 81,177 Low.
Another decline in BTC?
If Bitcoin does not rise above the $ 83,500 resistance zone, this can start a new decline. Immediate support on the disadvantage is near the level of $ 82,200. The first major support is near the level of $ 81,200.
The next support is now near the $ 80,500 zone. More losses can send the price in the short term to the support of $ 80,000. The most important support is $ 78,800.
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 – $ 82,200, followed by $ 81,200.
Large resistance levels – $ 83,500 and $ 85,000.
