Bitcoin Price Faces Tough Resistance: A Breakout In The Cards?
Bitcoin prices have risen newly risen at a price of $ 100,000. The resistance of BTC is $ 103,000, which may be to rise.
- Bitcoin began to move well above the $ 100,000 area.
- Price transactions are less than $ 103, 200 and 100 hours of simple moving average.
- In the hour chart of the BTC/USD pair, there is a key point of view of the trend line with a resistance of $ 102,800 (data referral from Kraken).
- If the two stay below the $ 103,000 area, the couple may fall again.
Bitcoin price support
Bitcoin price starts New decline Level below $ 103,000 and $ 102,500. Before the emergence of the Bull, BTC even dropped below $ 100,000. The low price is $ 97,688, and the current price is correcting losses.
More than $ 99,800 and $ 100,500 transfer. The Bulls will retreat at the price of the decline in the tide of decreased than 50 %, rising from a low of $ 107,080 to a low point of $ 97,688. However, bears are active near a $ 103,000 area.
On the hourly chart of the BTC/USD pair, there is also a key drop trend line with a resistance of $ 102,800. The current transaction price of Bitcoin prices is less than $ 103,200. 100 -hour simple moving averageEssence
In good aspects, the immediately resistance is close to a level of $ 102,500. The first key resistance is the level of nearly $ 103,000. The next key resistance may be $ 103,500, and the 61.8 % FIB retracement level of the decline in the wave of decline is from a swinging high of $ 107,080 to 97,688 US dollars.
The closure of resistance of more than 103,500 US dollars may make the price higher. Under the state of statement, the price may rise and test the resistance level of $ 105,000. More returns may transfer the price to a level of $ 107,000.
Another reduction of BTC?
If Bitcoin fails to exceed $ 103,000, a new decline may begin. The disadvantage immediately supports nearly $ 10,200. The first main support is the level of nearly $ 100,500.
Now, the next support is near a $ 100,000 area. In the short term, more losses may transfer the price to $ 88,800.
Technical indicator:
MACD -MACD is now losing its pace now.
The hour RSI (relative strength index) -BTC/USD RSI is now lower than level 50.
The main support level is $ 101,200, followed by $ 100,500.
The main resistance level is $ 102,500 and $ 103,000.
