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Home»EXCHANGE NEWS»Bitcoin price comeback meets resistance: brake out or rejection?
EXCHANGE NEWS

Bitcoin price comeback meets resistance: brake out or rejection?

By Crypto FlexsFebruary 1, 20252 Mins Read
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Bitcoin price comeback meets resistance: brake out or rejection?
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This article is also provided in Spanish.

Bitcoin Price has begun a new rise of $ 103,200 or more. BTC is now modifying profits and can be back to the $ 102,000 support area.

  • Bitcoin has begun to move up to decent above $ 103,200.
  • The price is more than $ 103,000 and a simple move per hour.
  • There is a major strong trend line that provides $ 103,500 in the hourly chart of the BTC/USD pair (Krake’s data feed).
  • The pair can start another increase by exceeding the $ 102,000 zone.

Bitcoin prices recover more than $ 102,000

Bitcoin prices began to impress more than the $ 101,500 resistance zone. The BTC was able to move to a positive area by surpassing the resistance level of $ 102,200 and $ 103,200.

It even cleared the $ 104,500 resistance area. The pair has settled in a positive area and is now faced with obstacles near the $ 106,500 zone. The best is $ 106,414 and the price is now revising. There was a movement of less than $ 105,000.

Currently, we are testing the level after 23.6% FIB from the $ 97,688 swing to the lowest $ 106,414 height. Bitcoin Price currently trades a simple average moving average of $ 103,000 and 100 hours.

There is also a major trend line that provides $ 103,500 in the BTC/USD pair. Conversely, immediate resistance is close to $ 105,500. The first main resistance is close to $ 106,500. The next key resistance can be $ 107,000.

Source: TradingView.com BTCUSD

The price may be higher than that of $ 107,000. If specified, the price rises and tests the $ 108,800 resistance level. No more profit can spend the price to $ 110,000.

Another reduction in BTC?

If Bitcoin does not exceed $ 105,000, a new reduction can begin. Immediate support for the shortcomings is close to $ 103,500. The first main support is nearly $ 102,500 and is 50% FIB from the $ 97,688 swing to $ 106,414 height.

The next support is now near $ 102,000. Loss is no longer available for $ 100,500 in the short term.

Technical indicators:

Time -MACD -MACD is now losing speed in the strong zone.

Time RSI (Relative Strength Index) -The RSI of BTC/USD is now exceeding level 50.

Major support levels -$ 103,500, $ 102,500.

Main resistance level -$ 105,500 and $ 106,500.

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