The Bitcoin price has started a new move up to over $ 102,000. BTC is increasing and could obtain a rhythm for a move above the $ 105,000 resistance area.
- Bitcoin started a decent move to the top above the $ 102,000 area.
- The price is exchanged over $ 103,500 and the simple 100 -hour mobile average.
- There has been a break on a line of keywarm key with $ 102,400 resistance on the time graphic of the BTC/USD couple (data feed from Kraken).
- The couple could start another decline if it remains below the $ 105,000 area.
The Bitcoin price interrupts the resistance
The price of Bitcoin has started a decent increase above the $ 100,000 resistance area. BTC has been able to overcome resistance levels of $ 102,000 and $ 102,200 to move to a positive area.
There has been a break on a line of keywarm key with a resistance to $ 102,400 on the time graphic of the BTC/USD couple. The torque rose above the FIB retracement level of 61.8% of the wave down from the top of $ 107,080 at the top to a minimum of $ 97,688. He even authorized the resistance area of $ 103,500.
The couple settled in a positive area and now faces obstacles near the $ 105,000 area. The Bitcoin price is now exchanged above $ 103,000 and the simple 100 -hour mobile average. On the positive side, the immediate resistance is close to the level of $ 104,800 or the FIB retracement level of 76.4% of the wave down from above $ 107,080 at the top to a minimum of $ 97,688.
The first key resistance is close to the $ 105,000 level. The next resistance to the key could be $ 105,500. A closure above the resistance of $ 105,500 could send the price higher. In the declared case, the price could increase and test the level of resistance of $ 107,000. Other earnings may send the price to the level of $ 108,800 in the short term.
Another decline in BTC?
If Bitcoin is unable to overcome the $ 105,000 resistance area, a new decline could start. The immediate support on the downside is close to the level of $ 103,200. The first important support is close to the $ 102,000 level.
The next support is now close to the $ 101,200 area. Other losses may send the price to the support of $ 100,000 in the short term.
Technical indicators:
MACD TIME – The MacD is now gaining the rhythm in the bullish area.
TIME TIME (relative resistance index) – The RSI for BTC/USD is now above level 50.
The main support levels – $ 103,200, followed by $ 102,000.
The main resistance levels – $ 105,000 and $ 107,000.