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Bitcoin price has started a new decrease less than $ 80,000. BTC is now correcting losses and may face resistance near the $ 80,500 region.
- Bitcoin has started a new decrease less than $ 80,000.
- The price is traded to less than 81,500 dollars and the simple moving average is 100 hours.
- There is a declining trend connected to resistance at $ 80,400 on the watch chart for the BTC/USD (data feeding from Kraken).
- The husband can start another increase if he wipes an area of $ 81,500.
Bitcoin price starts recovery
Bitcoin price has started a new decrease less than $ 82,000 and $ 81200. BTC is trading less than $ 80,500 and $ 80,000 to enter the landing zone.
The price decreased to less than 78,000 dollars. A decrease was formed at $ 74409 and the price began to recover. There was a step above 76800 dollars. The price increased above the rendray level by 50 % than the last decrease from an altitude of 83,680 dollars to the lowest level at 74,409 dollars.
However, the price is struggling to continue higher. Bitcoin price is now trading to less than $ 81,200 and a simple moving average 100 hours. On the upper side, the immediate resistance approaches the level of $ 80,400. There is also a rolling line that is formed with a resistance at $ 80,400 on the watch chart for the BTC/USD.
The first main resistance is approaching the level of 81,500 dollars or the level of FIB decline by 76.4 % of the last decrease from the height of 83,680 dollars to the low level of 74,409 dollars. The following key resistance can be $ 82,500. The closure above the resistance of $ 82,500 may be the price to the top. In the specified case, the price and the resistance level of the resistance level of $ 83,500 may rise. Any other gains may send the price to a level of $ 85,000.
Another decrease in BTC?
If Bitcoin fails to rise above the 80,500 dollar resistance area, it may start a new decrease. Immediate support on the negative side is near the level of $ 79,500. The first main support is near the level of $ 78,000.
The next support is now near the $ 76500 region. Any other losses may send the price to $ 75,000 in the short term. The main support sits at $ 74,400.
Technical indicators:
MACD every hour – MACD is now acquired in the upscale area.
RSI clock (RSI) RSI for BTC/USD now higher than 50 level.
Main support levels – $ 79,500, followed by $ 78,000.
Main resistance levels – $ 80,500 and $ 81,500.
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