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Bitcoin Price began a new decrease in the $ 92,000 zone. BTC is back below $ 85,500 and could continue to fall below $ 80,000.
- Bitcoin began a new decrease below the $ 85,000 zone.
- The price is quoted below $ 85,000 and the single mobile average of 100 hours.
- There is a short -term bearish trend line that is formed with resistance to $ 83,200 in the BTC/USD -hour graph (Kraken data food).
- The torque could begin another decrease if the resistance zone of $ 80,000 cannot erase.
Bitcoin Price faces resistance
Bitcoin Price began a new decrease below the level of $ 88,000. BTC quoted below the support levels of $ 86,000 and $ 85,000. Finally, the price tested the $ 80,000 support zone.
A minimum formed at $ 80,006 and the price recently began a wave of recovery. There was a movement above the resistance levels of $ 80,500 and $ 81,200. The Bulls pushed the price towards the FIB recoil level of 23.6% of the downward movement of the change of $ 91,060 to a minimum of $ 80,006.
The price of Bitcoin is now quoted below $ 85,000 and the simple mobile average of 100 hours. On the positive side, the immediate resistance is close to the level of $ 82,700. The first key resistance is close to the level of $ 83,000.
There is also a short -term bearish tendency line that is formed with resistance to $ 83,200 in the BTC/USD par. The next key resistance could be $ 85,000. It is close to the 50% fib setback level from the movement from the swing of $ 91,060 to the maximum to a minimum of $ 80,006.
A closure above the resistance of $ 85,000 could send the highest price. In the established case, the price could increase and test the resistance level of $ 87,500. More earnings can send the price at $ 90,000 or even $ 96,200.
Another decrease in BTC?
If Bitcoin does not rise above the resistance zone of $ 83,000, a new decrease could begin. Immediate support in the inconvenience is close to the level of $ 81,000. The first important support is close to the level of $ 80,200.
The next support is now near the $ 80,000 zone. More losses could send the price to $ 78,000 support in the short term. The main support is at $ 75,000.
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: $ 80,000, followed by $ 78,000.
Important resistance levels: $ 83,000 and $ 85,000.
