The price of Bitcoin shows bassist signs below $ 112,000. BTC is struggling to recover and could begin another decrease below the $ 108,000 zone.
- Bitcoin began a new decrease below the $ 112,550 zone.
- The price is quoted below $ 111,000 and the simple mobile average of 100 hours.
- There was a break below a bullish trend line with $ 108,450 support in the BTC/USD -hour graph (Kraken data feed).
- The torque could begin another decrease if it breaks the support zone of $ 108,000.
Bitcoin Price is submerged again
Bitcoin Price tried a new wave of recovery from the minimum of $ 107,352. BTC could rise above the resistance levels of $ 108,000 and $ 108,500.
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. However, the Bears remained active about $ 109,500 and avoided more profits. The price again moves below $ 109,000.
There was a break below a bullish trend line with $ 108,450 support in the BTC/USD table. Bitcoin is now quoted below $ 109,000 and the simple mobile average of 100 hours.
The immediate resistance in the advantage is close to the level of $ 109,400. The first key resistance is close to the level of $ 110,000. 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 $ 112,000. More earnings can send the price to the level of $ 112,500. The main objective could be $ 113,500.
More losses in BTC?
If Bitcoin does not rise above the resistance zone of $ 110,500, a new decrease could begin. Immediate support is close to the level of $ 108,000. The first important support is close to the level of $ 107,400.
The next support is now near the $ 106,500 zone. More losses can send the price to the $ 105,500 support in the short term. The main support is at $ 103,500, below which BTC could decrease sharply.
Technical indicators:
MacD per hour: The MacD is now gaining rhythm in the bearish zone.
RSI per hour (relative force index): RSI for BTC/USD is now below the level of 50.
Important support levels: $ 107,400, followed by $ 106,500.
Important resistance levels: $ 109,500 and $ 110,500.