The price of Bitcoin still shows bassist signs below $ 112,000. BTC is now trying to recover and could face obstacles near the level of $ 110,500.
- Bitcoin began a new decrease below the $ 112,000 zone.
- The price is quoted below $ 110,500 and the simple mobile average of 100 hours.
- There was a break above a short -term hiring triangle with resistance to $ 108,800 in the BTC/USD -hour graph (Kraken data food).
- The torque could begin another decrease if it remains below the area of $ 110,500.
Bitcoin’s price begins consolidation
Bitcoin Price tried a new recovery wave of the $ 107,350 zone. BTC could rise above the resistance levels of $ 108,200 and $ 108,400.
The price cleared the FIB recoil level of 23.6% of the key fall of the swing of $ 113,457 to the maximum up to the minimum of $ 107,352. In addition, there was a break above a short -term hiring triangle with resistance to $ 108,800 in the BTC/USD -hour graph.
However, the bears are still active about $ 109,500. The price now consolidates about $ 109,500. Bitcoin is now quoted below $ 110,000 and the simple mobile average of 100 hours.
The immediate resistance in the advantage is close to the level of $ 109,500. The first key resistance is close to the level of $ 110,200. The following resistance could be $ 110,500 or the FIB retreat level of 50% of the key fall from the $ 113,457 swing to the maximum to a minimum of $ 107,352.
A closure above the resistance of $ 110,500 could send the highest price. In the established case, the price could increase and test the resistance level of $ 111,650. More earnings can send the price to the level of $ 112,500. The main objective could be $ 113,500.
Another decrease in BTC?
If Bitcoin does not rise above the resistance zone of $ 110,500, a new decrease could begin. The immediate support is close to the level of $ 108,800. The first important support is close to the level of $ 108,200.
The next support is now near the $ 107,350 zone. More losses can send the price to the $ 106,500 support in the short term. The main support is at $ 105,500, below which BTC could decrease sharply.
Technical indicators:
MacD per hour: The MacD is now losing rhythm in the bearish zone.
RSI per hour (relative force index): the RSI for BTC/USD is now above the level of 50.
Important support levels: $ 108,800, followed by $ 108,000.
Important resistance levels: $ 109,500 and $ 110,500.
