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Bitcoin Price began a constant increase above the $ 86,500 zone. BTC is now correcting profits and could find offers about $ 87,000.
- Bitcoin began a decent recovery wave above the $ 87,000 zone.
- The price is quoted above $ 86,800 and the single mobile average of 100 hours.
- There is a bullish line of connection with $ 87,400 support in the BTC/USD -hour graph (Kraken data food).
- The couple could begin another increase if it deletes the levels of $ 88,000 and $ 88,800.
Bitcoin’s price begins consolidation
The price of Bitcoin remained stable above the level of $ 84,200. BTC formed a base and recently began a recovery wave above the resistance level of $ 86,500.
The Bulls exceeded the price above the resistance level of $ 88,000. However, the bears were active near the resistance zone of $ 88,800. The recent Swing High formed at $ 88,500 and the price corrected some profits. There was a movement below the level of $ 88,000.
The price fell and tested the 50% fib setback level of the amount of $ 86,306 to the maximum of $ 88,500. The price of Bitcoin is now quoted above $ 86,500 and the simple mobile average of 100 hours. There is also a connection bullish trend line that is formed with $ 87,400 support in the BTC/USD Table per hour.
On the positive side, the immediate resistance is close to the level of $ 88,000. The first key resistance is close to the level of $ 88,500. The next key resistance could be $ 88,800.
A closure above the resistance of $ 88,800 could send the highest price. In the established case, the price could increase and test the resistance level of $ 89,500. More earnings can send the price at $ 90,000 or even $ 90,500.
More losses in BTC?
If Bitcoin does not rise above the resistance zone of $ 88,000, a new decrease could begin. Immediate support in the inconvenience is close to the level of $ 87,400 and the trend line. The first important support is close to the level of $ 87,150 or the FIB retreat level of 61.8% of the upward movement of the minimum of $ 86,306 to the maximum of $ 88,500.
The following support is now near the $ 86,500 zone. More losses could send the price to $ 85,000 support in the short term. The main support is at $ 84,500.
Technical indicators:
Macd per hour: The MacD is now losing 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: $ 87,400, followed by $ 87,150.
Important resistance levels: $ 88,000 and $ 88,800.
