Bitcoin Price Displays Bullish Signs: A Recovery In The Making?
The price of Bitcoin began a new rise at a price of $ 102,000. BTC is rising and may be accelerated at the migration of more than 105,000 US dollars.
- Bitcoin began to move well above the $ 102,000 area.
- The price of the price is higher than $ 103,500, and the simple moving average of 100 hours.
- The hourly chart of the BTC/USD pair (Kraken’s data referral) has a breakthrough on the key drop trend line with a resistance of 102,400 US dollars.
- If the two stay below $ 105,000, the couple may fall again.
Bitcoin prices have damaged resistance
The price of Bitcoin far exceeds more than $ 100,000 resistance areaEssence BTC can enter the main area of more than $ 102,000 and $ 102,200.
There is a breakthrough above The key to see the trend line The resistance of the BTC/USD pair on the chart of each hour is $ 102,400. The couple climbed from a low autumn of $ 107,080 to a low point of $ 97,688 to the 61.8 % FIB retracement level of the decline. It even cleared the resistance area of $ 103,500.
The two settled in a positive area and now face obstacles near $ 105,000. The current transaction price of Bitcoin prices exceeds $ 103,000 and 100 hours of simple moving average. In good aspects, the immediately of the level of nearly $ 104,800, that is, the 76.4 % FIB retracement level of the downward waves, from the autumn of $ 107,080 to the $ 97,688 low.
The first key resistance is the level of nearly $ 105,000. The next key resistance may be $ 105,500. The closure of resistance than $ 105,500 may make the price higher. Under the state of statement, the price may rise and test the resistance level of $ 107,000. In the short term, more income may transfer the price to a level of $ 108,800.
Another reduction of BTC?
If Bitcoin fails to exceed $ 105,000, a new decline may begin. Immediately support at the unprofitable side of nearly $ 103,200. The first support mainly supports nearly $ 102,000.
Now, the next support is nearly $ 101,200. In the short term, more losses may send the price to $ 100,000 support.
Technical indicator:
MACD -MACD is now accelerating the pace.
The hour RSI (relative strength index) -BTC/USD RSI is now higher than level 50.
The main support level is $ 103,200, followed by $ 102,000.
The main resistance level is-$ 105,000 and $ 107,000.
