Bitcoin Price is trying to recover above $ 112,500. BTC is now consolidating and could increase if it erases the resistance zone of $ 114,250.
- Bitcoin began a new increase above the $ 113,200 zone.
- The price is quoted below $ 113,000 and the simple mobile average of 100 hours.
- There was a break over a boldness line with resistance to $ 112,300 in the BTC/USD -hour graph (Kraken data food).
- The torque could begin another increase if it erases the area of $ 114,250.
Bitcoin Price Eyes Recovery
Bitcoin Price began a new recovery wave of the $ 110,200 zone. BTC managed to rise above the resistance levels of $ 111,500 and $ 112,500.
The Bulls were able to exceed the price above $ 113,000 and $ 114,000. In addition, there was a break over a bold trend line with resistance to $ 112,300 in the BTC/USD par. The couple quoted up to $ 114,270 and recently began a consolidation phase.
There was a lower decrease below $ 114,000. The price tested the FIB recoil level of 23.6% of the recent decrease movement of $ 110,815 to the maximum of $ 114,270.
Bitcoin is now quoted above $ 112,500 and the single mobile average of 100 hours. The immediate resistance in the advantage is close to the level of $ 114,250. The first key resistance is close to the level of $ 114,500. The next resistance could be $ 115,000. A closure above the $ 115,000 resistance could send the highest price. In the established case, the price could increase and test the resistance level of $ 115,500. More earnings can send the price to the level of $ 116,200. The main objective could be $ 118,000.
Another decrease in BTC?
If Bitcoin does not rise above the resistance zone of $ 114,250, a new decrease could begin. The immediate support is close to the level of $ 113,500. The first important support is close to the level of $ 112,500 or the FIB decrease level of 50% of the recent movement of the minimum of $ 110,815 to the maximum of $ 114,270.
The next support is now near the $ 112,000 zone. More losses can send the price to the $ 111,500 support in the short term. The main support is at $ 110,500, below which BTC could decrease sharply.
Technical indicators:
Macd per hour: The MacD is now gaining rhythm in the upward zone.
RSI per hour (relative force index): the RSI for BTC/USD is now above the level of 50.
Important support levels: $ 112,500, followed by $ 112,000.
Important resistance levels: $ 114,250 and $ 115,000.
