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The price of Bitcoin began a new increase and erased the $ 103,500 area. BTC is now consolidated and could aim to erase the $ 105,000 area.
- Bitcoin started a new movement up of the $ 101,500 area.
- The price is negotiated over $ 103,000 and the single mobile average of 100 hours.
- There was a break over a lower connection line of connection with resistance at $ 103,950 on the time graph of the BTC / USD pair (Kraken data flow).
- The pair could take a bullish momentum if it erases the resistance of $ 105,000.
The price of bitcoin targets above
Bitcoin Price began a new increase compared to the $ 101,500 support area. BTC formed a base and was able to clean the resistance zone of $ 102,500. Bulls even pushed the price above $ 103,200.
There has been a movement above the FIB trace level at 50% of the movement down of the swing of $ 104,980 at the bottom of $ 101,441. In addition, there was a break above a lower connection line of connection with resistance at $ 103,950 on the time table of the BTC / USD pair.
Bitcoin is now negotiated over $ 103,200 and the single single-hour mobile average. Uplining, immediate resistance is close to the level of $ 104,150 or the FIB trace level of 76.4% of the downward movement of swing of $ 104,980 at the bottom of $ 101,441.
The first resistance of the keys is close to the level of $ 105,000. The next keys could be $ 105,500. A higher fence of the resistance of $ 105,500 could send the higher price. In the indicated case, the price could increase and test the resistance level by $ 106,500. Other gains could send the price at $ 108,000.
Another drop in the BTC?
If Bitcoin does not exceed the resistance zone of $ 104,200, it could start another short -term correction. Immediate downward support is close to the level of $ 103,200 and the simple 100 -hour mobile average. The first major support is close to the level of $ 102,500.
The next support is now close to the $ 101,500 area. Other losses could send the price to the support of $ 100,000 in the short term. The main support is at $ 98,800, below which BTC could take a downward dynamic.
Technical indicators:
MacD Schedule – The MacD now wins the pace in the bullish area.
Schedule RSI (Relative resistance index) – The RSI for BTC / USD is now higher than level 50.
Major support levels – $ 102,500, followed by $ 101,500.
Major resistance levels – $ 104,200 and $ 105,000.
