Bitcoin Price began a recovery wave over the $ 105,000 area. BTC is now consolidated and could try to clear the resistance of $ 106,500.
- Bitcoin started a recovery wave over the $ 105,000 area.
- The price is traded over $ 105,000 and the single mobile average of 100 hours.
- There is an upward trend line forming with $ 105,350 support on the time graph of the BTC / USD pair (Kraken data flow).
- The pair could start a new drop if it breaks the support area of $ 104,000.
Bitcoin price restarts increase
Bitcoin Price started a new drop and exchanged below the $ 102,500 support area. BTC even exchanged near the $ 100,000 area before the appearance of Bulls.
A hollow has been formed and the price recovered above the resistance of $ 103,500. The Bulls even pushed the price above the resistance of $ 105,000. A summit was formed at $ 106,426 and the price now consolidates the higher gains in the FIB trace level of 23.6% of the upward movement of $ 100,400 at $ 106,426.
Bitcoin is now negotiated over $ 105,000 and the single mobile average of 100 hours. There is also an upward trend line forming with a support at $ 105,350 on the time table of the BTC / USD pair.
Uplining, immediate resistance is close to the level of $ 106,200. The first resistance of the keys is close to the level of $ 106,500. The next resistance of the keys could be $ 107,600. A fence greater than the resistance of $ 107,600 could send the higher price. In the indicated case, the price could increase and test the resistance level by $ 108,800. Other gains could send the price at $ 110,000.
Another drop in the BTC?
If Bitcoin does not exceed the resistance zone of $ 106,200, it could start another drop. Immediate support is close to the level of $ 105,200 and the trend line. The first major medium is close to the level of $ 103,500 and the FIB trace level at 50% of the increase in the deployment of the swing of $ 100,400 in terms of $ 106,426.
The next support is now close to $ 102,000 zone. Other losses could send the price to the support of $ 100,500 in the short term. The main support is at $ 100,000, below which BTC could take a lower momentum.
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 – $ 105,200, followed by $ 103,500.
Major resistance levels – $ 106,200 and $ 107,600.
