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Strict editorial policy that focuses on accuracy, relevance, and impartiality
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Bitcoin price started a fresh decline and tested the $104,200 zone. BTC is now consolidating and might struggle to clear the $106,800 resistance zone.
- Bitcoin started a consolidation phase above the $104,000 zone.
- The price is trading below $106,000 and the 100 hourly Simple moving average.
- There is a bullish trend line forming with support at $104,450 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could start a fresh increase if it clears the $106,800 resistance zone.
Bitcoin Price Dips To Support
Bitcoin price started a fresh decline and traded below the $105,650 support zone. BTC even traded below the $105,200 level and tested the $104,200 zone.
A low was formed at $104,279 and the price is now consolidating losses. There was a move above the $104,500 level and the 23.6% Fib retracement level of the recent decline from the $106,820 swing high to the $104,279 low.
Bitcoin is now trading below $106,000 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $104,450 on the hourly chart of the BTC/USD pair. On the upside, immediate resistance is near the $105,500 level. It is close to the 50% Fib retracement level of the recent decline from the $106,820 swing high to the $104,279 low.
The first key resistance is near the $106,220 level. The next key resistance could be $106,800. A close above the $106,800 resistance might send the price further higher. In the stated case, the price could rise and test the $107,500 resistance level. Any more gains might send the price toward the $110,000 level.
More Losses In BTC?
If Bitcoin fails to rise above the $106,000 resistance zone, it could start another decline. Immediate support is near the $104,500 level and the trend line. The first major support is near the $104,200 level.
The next support is now near the $103,200 zone. Any more losses might send the price toward the $102,500 support in the near term. The main support sits at $101,200, below which BTC might gain bearish momentum.
Technical indicators:
Hourly MACD – The MACD is now losing pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.
Major Support Levels – $104,200, followed by $103,200.
Major Resistance Levels – $105,500 and $106,800.
Reason to trust
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Bitcoin price started a fresh decline and tested the $104,200 zone. BTC is now consolidating and might struggle to clear the $106,800 resistance zone.
- Bitcoin started a consolidation phase above the $104,000 zone.
- The price is trading below $106,000 and the 100 hourly Simple moving average.
- There is a bullish trend line forming with support at $104,450 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could start a fresh increase if it clears the $106,800 resistance zone.
Bitcoin Price Dips To Support
Bitcoin price started a fresh decline and traded below the $105,650 support zone. BTC even traded below the $105,200 level and tested the $104,200 zone.
A low was formed at $104,279 and the price is now consolidating losses. There was a move above the $104,500 level and the 23.6% Fib retracement level of the recent decline from the $106,820 swing high to the $104,279 low.
Bitcoin is now trading below $106,000 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $104,450 on the hourly chart of the BTC/USD pair. On the upside, immediate resistance is near the $105,500 level. It is close to the 50% Fib retracement level of the recent decline from the $106,820 swing high to the $104,279 low.
The first key resistance is near the $106,220 level. The next key resistance could be $106,800. A close above the $106,800 resistance might send the price further higher. In the stated case, the price could rise and test the $107,500 resistance level. Any more gains might send the price toward the $110,000 level.
More Losses In BTC?
If Bitcoin fails to rise above the $106,000 resistance zone, it could start another decline. Immediate support is near the $104,500 level and the trend line. The first major support is near the $104,200 level.
The next support is now near the $103,200 zone. Any more losses might send the price toward the $102,500 support in the near term. The main support sits at $101,200, below which BTC might gain bearish momentum.
Technical indicators:
Hourly MACD – The MACD is now losing pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.
Major Support Levels – $104,200, followed by $103,200.
Major Resistance Levels – $105,500 and $106,800.
