Bitcoin Price began another decrease below the area of $ 96,200. BTC is trying the $ 95,000 support zone again and could have difficulty recovering losses.
- Bitcoin began a new decrease in the $ 97,500 zone.
- The price is quoted below $ 96,200 and the single mobile average of 100 hours.
- There is a key bold tendency line that is formed with resistance to $ 96,000 in the BTC/USD -hour graph (Kraken data food).
- The couple could start another increase if it is maintained above the $ 95,000 zone.
Bitcoin Price immerses more
Bitcoin Price failed to eliminate resistance levels of $ 98,500 and $ 98,000. BTC formed an upper part and began a new decrease below the level of $ 96,500. There was a clear movement below the support level of $ 96,200.
The price even fell below the level of $ 95,000. However, the Bulls appeared about $ 93,400. A minimum formed to $ 93,388 and the price now tries to recover. There was a movement above the level of $ 95,000. The price cleared the FIB recoil level of 23.6% of the downward movement of the change of $ 98,825 to a minimum of $ 93,288.
The price of Bitcoin is now quoted below $ 96,200 and the simple mobile average of 100 hours. On the positive side, the immediate resistance is close to the level of $ 96,000. There is also a key bearish tendency line that is formed with resistance to $ 96,000 in the BTC/USD -hour graph.
The first key resistance is close to the level of $ 96,200 or the 50% fib setback level from the swing of $ 98,825 to the minimum of $ 93,288. The next key resistance could be $ 96,750.
A closure above the resistance of $ 96,750 could send the highest price. In the established case, the price could increase and test the resistance level of $ 97,500. The more earnings can send the price to the level of $ 98,200 or even $ 98,500.
More losses in BTC?
If Bitcoin does not rise above the resistance zone of $ 96,000, a new decrease could begin. Immediate support in the inconvenience is close to the level of $ 95,000. The first important support is close to the level of $ 94,200.
The following support is now near the $ 93,400 zone. More losses can send the price to the $ 92,200 support in the short term. The main support is at $ 91,000.
Technical indicators:
MacD per hour: The MacD is now losing 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: $ 95,000, followed by $ 94,200.
Important resistance levels: $ 96,000 and $ 98,000.
