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Bitcoin price started a new increase and knew the $ 106,000 zone. BTC is now rising and can strive for a new increase to $ 110,000
- Bitcoin started a new upward movement from the $ 102,000 zone.
- The price is traded above $ 105,500 and the simple simple advancing average of 100 hours.
- There is a bullish trend line in the short term that forms with support at $ 105,800 on the hour table of the BTC/USD pair (data feed from Kraken).
- The couple could get bullish momentum if it knew the $ 107,000 resistance.
Bitcoin -price starts a new increase
Bitcoin Price started a new increase compared to the $ 102,000 support zone. BTC formed a basis and was able to erase the $ 104,200 resistance zone. The bulls pushed the price above $ 105,000.
There was a clear movement above the 50% FIB racement level of the downward movement of the $ 107,042 Swing high to $ 102.100 low. It opened the doors for a movement above the $ 106,000 resistance zone.
The current price promotion is positive, because the price has established itself above the 76.4% FIB racement level of the downward movement of the $ 107,042 Swing high to the $ 102.100 low. There is also a bullish trend line in the short term that forms with support for $ 105,800 on the hour table of the BTC/USD couple.
Bitcoin now acts above $ 105,500 and the 100 simple advancing average per hour. At the top is immediate resistance near the level of $ 107,000. The first key resistance is near the level of $ 107,200. The next key resistance can be $ 107,500. A close -up resistance of $ 107,500 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 108,800 tests. More profits can send the price to the $ 110,000 level and a new highest high point.
Another drop in BTC?
If Bitcoin does not rise above the $ 107,000 resistance zone, this can start a different correction. Immediate support on the disadvantage is near the level of $ 105,800. The first major support is close to the $ 105,000 level.
The next support is now near the $ 104,200 zone. More losses can send the price in the short term to the support of $ 103,500. The most important support is at $ 102,500, including BTC possibly obedish Momentum.
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 – $ 104,200, followed by $ 103,500.
Important resistance levels – $ 107,000 and $ 107,500.
