Bitcoin value began a recent enhance and examined the $100,000 degree. BTC is now displaying many constructive indicators and would possibly proceed to rise.
- Bitcoin is gaining tempo above the $96,500 zone.
- The value is buying and selling beneath $98,500 and the 100 hourly Simple shifting common.
- There was a break above a key bearish development line with resistance at $97,550 on the hourly chart of the BTC/USD pair (knowledge feed from Kraken).
- The pair examined the important thing milestone degree at $100,000 and would possibly lengthen positive factors.
Bitcoin Price Hits $100K
Bitcoin value began one other enhance above the $96,500 resistance zone. BTC was in a position to clear the $97,500 and $98,000 resistance ranges. The bulls even pumped it to a brand new all-time excessive.
There was a break above a key bearish development line with resistance at $97,550 on the hourly chart of the BTC/USD pair. Finally, the worth examined the $100,000 degree. The present value motion means that the worth would possibly proceed to rise and is secure above the 23.6% Fib retracement degree of the upward transfer from the $64,656 swing low to the $100,000 excessive.
Bitcoin value is now buying and selling beneath $98,500 and the 100 hourly Simple moving average. On the upside, the worth may face resistance close to the $100,000 degree. The first key resistance is close to the $102,000 degree. A clear transfer above the $102,000 resistance would possibly ship the worth increased.
The subsequent key resistance could possibly be $105,000. A shut above the $105,000 resistance would possibly ship the worth additional increased. In the acknowledged case, the worth may rise and check the $108,000 resistance degree. Any extra positive factors would possibly ship the worth towards the $112,000 degree.
Another Drop In BTC?
If Bitcoin fails to rise above the $100,000 resistance zone, it may begin one other draw back correction. Immediate help on the draw back is close to the $98,800 degree.
The first main help is close to the $98,000 degree. The subsequent help is now close to the $96,500 zone or the 61.8% Fib retracement degree of the upward transfer from the $64,656 swing low to the $100,000 excessive. Any extra losses would possibly ship the worth towards the $95,000 help in the close to time period.
Technical indicators:
Hourly MACD – The MACD is now gaining tempo in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 degree.
Major Support Levels – $98,500, adopted by $96,500.
Major Resistance Levels – $100,000, and $102,000.
