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Bitcoin Price has begun a new decrease than $ 88,000. BTC must maintain more than $ 80,000 in order to avoid more losses in the short term.
- Bitcoin has begun a new reduction in $ 92,500.
- The price is less than $ 88,000 and a simple transaction per hour.
- There is a connecting bare lysch trend line formed in the hourly chart of the BTC/USD pair (Krake’s Data Feed), which is formed in a resistance of $ 86,150.
- If you do not maintain more than $ 82,000, you can start another reduction.
Bitcoin prices fall further
Bitcoin prices did not maintain more than $ 92,500 and have begun a new reduction. The BTC fell significantly from the level of support of $ 90,000 and $ 88,000.
The price was lower than that of $ 85,000. I tested the $ 80,000 zone. The minimum is formed for $ 80,525 and the price is now integrated. It has returned to $ 83,500 and is 23.6% FIB reversal of falling from $ 89,203 to $ 80,525.
Bitcoin Price is now a transaction of less than $ 85,200 and less than a simple moving average per hour. Conversely, the immediate resistance is close to $ 85,000, or at $ 89,203 height to $ 80,525 at $ 80,525, close to 50% FIB reversal level.
The first main resistance is close to $ 85,500. There is also a connecting bearish trend line that is formed by a $ 86,150 resistance in the time chart of the BTC/USD pair.
The next key resistance can be $ 87,150. More than $ 87,150, the price can be higher. If specified, the price rises and tests the $ 88,500 resistance level. No more profit can be sent to $ 90,000 or $ 90,500.
Another fall of BTC?
If Bitcoin does not exceed the $ 86,000 resistance area, a new reduction may begin. Immediate support for the shortcomings is close to $ 83,000. The first main support is close to $ 82,000.
The next support is now near $ 81,200. Losss can no longer be priced with $ 80,000 in the short term. The main support is $ 78,500.
Technical indicators:
Time -MACD -MACD is currently losing speed in the weak area.
RSI (relative strength index) -The RSI of the BTC/USD is now less than 50.
Major support levels -$ 82,000, $ 80,000.
Main resistance level -$ 85,000 and $ 86,000.