Bitcoin price corrected gains from $ 116,500. BTC is now working to integrate and may start a new decrease if it remains less than the resistance area of $ 116,500.
- Bitcoin has started a new increase over the $ 115,000 region.
- The price is traded to less than 115500 dollars and the average simple movement is 100 hours.
- There is a declining trend line that is formed with resistance at $ 115,350 on the watch fee for the BTC/USD (data feeding from Kraken).
- The husband may start another increase if he wipes the $ 116,500 area.
Bitcoin is struggled to continue at the top
The price of bitcoin a Fresh upward wave Above a region of 113,500 dollars. BTC managed to climb over the resistance levels 114,500 dollars and $ 115,000.
The bulls were able to pay the price above 116,000 dollars and $ 11,200. The price was traded to $ 116,743 and recently began a negative correction. There was a slight decrease less than $ 116,000. The price has decreased to less than the RENDRACTION level 23.6 % of the last transition from the decrease of oscillation of $ 110,815 to an increase of 116,743 dollars.
Bitcoin is now trading less than $ 115,500 and 100 simple hours in the moving average. Moreover, there is a declining directional line formed with resistance at $ 115350 on the watch chart for BTC/USD.
The immediate resistance is located on the upper side near the level of $ 115350. The first main resistance is located near the level of $ 116,150. The following resistance can be $ 116,750. The closure may be above $ 116,750 to send the price up. In the specified case, the price and the resistance level test may rise 117,500 dollars. Any other gains may send the price to the level of $ 118,500. The next barrier can be $ 118,800.
Continuing the negative side in BTC?
If Bitcoin fails to rise above the resistance area 116,150 dollars, it may start a new decrease. Immediate support is near the level of 114,500 dollars. The first main support is approaching the level of $ 113,750 or the FIB level by 50 % of the last transition from the decrease of oscillation of $ 110,815 to an increase of $ 116,743.
The next support is now near the $ 113,200 region. Any other losses may send the price towards $ 112,500 in the short term. The main support sits at 110,500 dollars, below may decrease the BTC severely.
Technical indicators:
MACD every hour – MACD is now losing a pace in the upper area.
RSI clock (RSI RSI) for BTC/USD is now less than 50 level.
Main support levels – $ 114,500, followed by $ 113,750.
Main resistance levels – $ 116,150 and $ 116,750.
