Bitcoin price is merged over the 95,000 dollar support area. BTC is struggling and it might slide more unless there was a closure above 98,800 dollars.
- Bitcoin has started a new decrease less than $ 98,000.
- The price is traded to less than 98,000 dollars and the average simple movement is 100 hours.
- There is a declining trend connected to resistance at 98200 dollars on the watch chart for the BTC/USD (data feeding from Kraken).
- The husband can start another increase if he wipes the area of $ 98,000.
Bitcoin price bears support
Bitcoin price failed to continue higher than the $ 100,500 region. Another decrease began less than the 98,500 dollars. BTC has gained a declining momentum for a step less than $ 98,000 and $ 96,000.
There was a step less than the level of FIB reatum by 50 % of the bullish transition from the decrease in oscillation of $ 91,000 to an increase of 102,500 dollars. The price has risen to less than the support level of $ 95,500 and settled less than a simple moving average 100 hours.
The REERERENT 61.8 % level of bullish move from a rise of $ 91,000 to a height of $ 102,500. Bitcoin price is now trading to less than $ 98,000 and average simple movement 100 hours.
On the upper side, the immediate resistance approaches the level of 96,750 dollars. The first key resistance approaches the level of $ 98,000. There is also a declining trend line that is formed with resistance at $ 98,200 on the watch chart for the BTC/USD.
The following main resistance can be $ 100,000. The closure above the resistance of $ 100,000 may be the price up. In the specified case, the price and the resistance level test may rise 101,200 dollars. Any other gains may send the price towards the level of 102,500 dollars.
More losses in BTC?
If Bitcoin fails to rise above the 98,000 dollar resistance area, it may start a new decrease. Immediate support on the downside is near the level of $ 96,000. The first major support is near the level of 95500 dollars.
The next support is now near 93,700 dollars. Any other losses may send the price to $ 92,000 in the short term. The main support sits at $ 91,000.
Technical indicators:
MACD every hour – MACD is now acquired in the Habboudia area.
RSI clock (RSI RSI) for BTC/USD is now less than 50 level.
Main support levels – 96,200 dollars, followed by $ 95,500.
Main resistance levels – $ 98,000 and 100,000 dollars.
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