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Bitcoin Price has begun a new reduction in an area of $ 92,000. The BTC has returned to less than $ 85,500 and can continue to fall to less than $ 80,000.
- Bitcoin has begun a new decrease than the $ 85,000 area.
- The price is less than $ 85,000 and a simple transaction per hour.
- In the time chart of the BTC/USD pair (data feed of KRAKEN), a short -term weaker trend line is formed with a $ 83,200 resistance.
- If you do not clean the $ 80,000 resistance area, you can start another reduction.
Bitcoin prices face resistance
Bitcoin Price has begun a new decline of less than $ 88,000. The BTC has been traded below $ 86,000 and $ 85,000. Finally, the price was tested for the $ 80,000 support area.
The minimum is formed for $ 80,006 and the price has recently begun to recover. There were more than $ 80,500 and $ 81,200. BULLS has returned to the level of 23.6%after a FIB of 23.6%, raising the price from $ 91,060 swing high to $ 80,006 at $ 80,006.
Bitcoin Price is now a transaction of less than $ 85,000 and less than a simple moving average per hour. Conversely, immediate resistance is close to $ 82,700. The first main resistance is close to $ 83,000.
There is also a short -term weakness line with a $ 83,200 resistance in the time chart of the BTC/USD pair. The next key resistance can be $ 85,000. It is close to the level of 50% FIB from the $ 91,060 swing height to $ 80,006 at $ 80,006.
More than $ 85,000 resistance, the price can be higher. If specified, the price rises and can test the resistance of $ 87,500. No more profit can be sent to $ 90,000 or $ 96,200.
Another reduction in BTC?
If Bitcoin does not exceed the $ 83,000 resistance area, a new reduction may begin. Immediate support for the shortcomings is close to $ 81,000. The first main support is close to $ 80,200.
The next support is now near $ 80,000. Loss is no longer a price of $ 78,000 in the short term. The main support is $ 75,000.
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 -$ 80,000, $ 78,000.
Main resistance level -$ 83,000 and $ 85,000.