Bitcoin prices reduce profits from $ 124,000. BTC is now integrated below It is $ 120,000 and can be aimed at recovery.
- Bitcoin has started modifying disadvantages in the $ 124,000 zone.
- The price is less than $ 122,000 and is a transaction of less than a simple move per hour.
- In the hourly chart of the BTC/USD pair (Krake’s data feed), there was a break under the main strong trend line with the support of $ 120,000.
- If you organize the $ 120,000 resistance zone, the pair can start another increase.
Bitcoin prices fall sharply
Bitcoin prices have been traded at a new all -time high, nearly $ 124,000 before bears appear. The BTC began to edit and was traded below $ 122,000.
There was a support area of $ 121,200 and a move below a simple move per hour. In addition, there was a break under the main strong trend line with the support of $ 120,000 in the time -specific chart of the BTC/USD pair. The pair tested the $ 117,250 zone.
We are currently integrating losses and have restored some losses to test the level after 23.6% fib from $ 124,420 to $ 117,250. Bitcoin is currently being traded below $ 120,000 and less than a simple moving average per hour.
The immediate resistance of the rise is close to $ 119,000. The first main resistance is close to $ 120,000. The following resistance can be $ 120,500. More than $ 120,500, the price can be higher.
If specified, the price rises and can test the $ 121,650 resistance level or 61.8%FIB retreat from $ 124,420 to $ 117,250. No more profit can spend the price to $ 122,200. The main goal is $ 123,500.
Another reduction in BTC?
If Bitcoin does not exceed the $ 120,000 resistance area, a new reduction may begin. Immediate support is close to $ 118,000. The first main support is close to $ 117,250.
The next support is now near $ 116,500. Loss is no longer available for $ 115,500 in the short term. The main support is about $ 113,500, and BTC can continue to fall.
Technical indicators:
Time -MACD -MACD is now losing speed in the strong zone.
RSI (relative strength index) -The RSI of the BTC/USD is now less than 50.
Major support levels -$ 117,250, $ 116,500.
Main resistance level -$ 120,000 and $ 120,500.