Bitcoin prices are struggling to recover more than $ 112,500. BTC is now integrated and can be reduced if there is a movement of less than $ 110,800.
- Bitcoin has begun recovery of more than $ 110,800.
- The price is more than $ 111,000, a simple transaction per hour.
- There is a strong trend line that provides $ 110,800 support in the hourly chart of the BTC/USD pair.
- If the pair is maintained below $ 113,000, it can begin another reduction.
Bitcoin prices face major obstacles
Bitcoin Price has begun a new recovery from $ 110,000. The BTC has increased the resistance level of $ 110,800 and $ 111,200.
The bull has been able to increase the 50% fiber return level, from the $ 113,372 swing high to $ 110,039. But Bears was activated near $ 112,600, preventing more profits.
From the height of $ 113,372 to the low of $ 110,039, the level of the main decrease was 76.4% FIB and the level was returned. Bitcoin currently trades more than $ 111,000 and a simple move per hour. In addition, there is a strong trend line that provides $ 110,800 support from the time chart of the BTC/USD pair.
The immediate resistance of the rise is close to $ 111,750. The first main resistance is close to $ 112,000. The following resistance can be $ 112,550. The price may be higher than the resistance of $ 112,550. If specified, the price rises and you can test the resistance level of $ 113,000. No more profit can spend the price to $ 114,200. The main goal is $ 115,000.
Another reduction in BTC?
A new reduction may begin if Bitcoin does not rise from the $ 112,550 resistance area. Immediate support is close to $ 110,800 and trend line. The first main support is close to $ 110,500.
The next support is now near $ 110,000. Loss is no longer a price of $ 108,800 in the short term. The main support is $ 107,500, and the BTC below it can decrease rapidly.
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 -$ 110,800, $ 110,000.
Main resistance level -$ 112,550 and $ 113,000.