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Bitcoin price began to decrease a new decrease and test the 103,200 dollar area. BTC is now recovering and facing obstacles near the $ 107,000 region.
- Bitcoin has started a recovery wave over $ 105,000.
- The price is traded above 105,000 dollars and a simple moving average 100 hours.
- There is a bullish -supporting trend at 104,050 dollars on the watch chart for the BTC/USD (data feeding from Kraken).
- The husband can start a new increase if he wipes the resistance area of $ 107,000.
Bitcoin price faces obstacles
The price of bitcoin a Decline Less than $ 105,500 trading the support area. BTC was traded even below $ 105500 and tested the following support at $ 10,200.
A decrease has been formed at 103200 dollars and the price tries the recovery wave. There was a higher step than $ 104,500 and a 23.6 % FIB decline level than the last decline of the tower of $ 110,500 to a low level of 103,200 dollars. The price until the resistance was cleared 105,000 dollars.
Bitcoin is now trading over $ 105,000 and 100 simple hours in the moving average. There is also a connected ups in support with support at 104,050 dollars on the watch chart for the BTC/USD pair. On the upper side, the immediate resistance is approaching the level of 106,850 dollars. It is close to the REERERERMENT level by 50 % of the last decrease of the alternative of $ 110,500 to a decrease of $ 10,200.
The first key resistance approaches the level of $ 107,000. The following key resistance can be 107,800 dollars. The closure may be above the resistance of $ 107,800 sends the price up. In the aforementioned case, the price and the resistance level tested of $ 109,000 may rise. Any other gains may send the price to the level of $ 110,000.
Another drop in BTC?
If Bitcoin fails to rise over the 107,000 -dollar resistance area, it may begin to decrease. Immediate support is near the level of $ 105,000. The first major support is near the level of $ 104,000 and the direction line.
The next support is now near the $ 10,200. Any other losses may send the price towards $ 102,500 in the short term. The main support sits at 101,200 dollars, below, which may gain BTC dirty momentum.
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 – $ 105,000, followed by $ 104,000.
Main resistance levels – $ 107,000 and 107,800 dollars.
