Bitcoin Price Comeback Meets Resistance: Breakout or Rejection?
Bitcoin prices rose at a price of $ 103,200. BTC is now correcting the income and may visit the $ 102,000 support area.
- Bitcoin began to move well above the area of ​​$ 103,200.
- The price of the price is more than $ 103,000 and a simple moving average of 100 hours.
- There is a key bullish trend line on the BTC/USD pair of charts, supporting $ 103,500 (data referral from Kraken).
- If the two stay in the area of ​​$ 102,000, they may increase again.
Bitcoin price has returned to more than $ 102,000
The price of Bitcoin far exceeds more than $ 101,500 resistance areaEssence BTC can enter the main area of ​​more than $ 102,200 and $ 103,200.
It even cleared the resistance area of ​​$ 104,500. The two settled in a positive area and now face obstacles near $ 106,500. A high price is formed as $ 106,414, and the current price is correcting rising. Moving less than $ 105,000.
Now testing 23.6 % FIB retracement level Move upward From a sway of $ 97,688 to a high price of $ 106,414. The current transaction price of Bitcoin prices exceeds $ 103,000 and 100 hours of simple moving average.
There is also a key bullish trend line on the BTC/USD pair of charts, supporting $ 103,500. In good aspects, the immediately resistance is close to $ 105,500. The first key resistance is the level of nearly $ 106,500. The next key resistance may be $ 107,000.
The closure of resistance of more than 107,000 US dollars may make the price higher. Under the state of statement, the price may rise and test the resistance level of $ 108,800. More returns may transfer the price to the level of $ 110,000.
Another reduction of BTC?
If Bitcoin fails to exceed $ 105,000, a new decline may begin. The disadvantage immediately supports nearly $ 103,500. The first main support is the level of nearly $ 102,500. From a swingman of $ 97,688 to a height of $ 106,414, the 50 % FIB retracement level moved upward.
Now, the next support is near $ 102,000. In the short term, more losses may send the price to $ 100,500.
Technical indicator:
MACD -MACD is now losing its pace now.
The hour RSI (relative strength index) -BTC/USD RSI is now higher than level 50.
The main support level is $ 103,500, followed by $ 102,500.
The main resistance level-$ 105,500 and $ 106,500.
