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Bitcoin Price began a downward correction in the $ 97,800 zone. BTC is now negotiated below $ 95,000 and tests the support area of $ 93,500.
- Bitcoin has been supported above the $ 94,500 area.
- The price is negotiated below $ 96,000 and the single mobile average of 100 hours.
- There is a lower connection trend line forming with resistance at $ 95,250 on the time graph of the BTC / USD pair (Kraken data flow).
- The pair could start another increase if it erases the $ 95,750 area.
Bitcoin Price Tands to support
Bitcoin Price began a downward correction after failing to erase the resistance of $ 98,000. BTC decreased below the support levels of $ 96,500 and $ 95,500.
The Bears even pushed it below $ 95,000. A hollow was formed at $ 93,570 and the price is now trying to recover. There was a decision above the level of $ 94,000 and to the FIB trace level of 23.6% of the recent drop in swing of $ 97,885 at the bottom of $ 93,570.
The Bitcoin price is now negotiated below $ 96,000 and the single mobile average of 100 hours. Uplining, immediate resistance is close to the level of $ 94,500. The first resistance of the keys is close to the level of $ 95,250. There is also a lower connection trend line forming with resistance at $ 95,250 on the time table of the BTC / USD pair.
The next resistance of the keys could be $ 95,750 and the FIB trace level at 50% of the recent decrease in swing from $ 97,885 to $ 93,570 low. A higher fence of the resistance of $ 95,750 could send the higher price. In the indicated case, the price could increase and test the resistance level by $ 96,800. Other gains could send the price at $ 98,000.
Another drop in the BTC?
If Bitcoin does not exceed the resistance zone of $ 95,250, it could start another decline. Immediate downward support is close to the level of $ 94,000. The first major support is close to the level of $ 93,500.
The next support is now close to the $ 93,200 area. Other losses could send the price to the support of $ 92,500 in the short term. The main support is at $ 91,200.
Technical indicators:
MacD Schedule – The MacD is now losing a pace in the lower area.
Schedule RSI (Relative force index) – The RSI for BTC / USD is now lower than level 50.
Major support levels – $ 94,000, followed by $ 93,500.
Major resistance levels – $ 95,250 and $ 95,750.
