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Bitcoin price increases again over the area of $ 95,000. BTC acquires a pace and may aim to move higher than the resistance area 97,500 dollars.
- Bitcoin remained backed over a $ 94500 area.
- The price is traded above 95,000 dollars and a simple moving average 100 hours.
- There is a continuous climbing trend that is formed with support at 96,350 dollars on the watch fee for the BTC/USD (data feeding from Kraken).
- The husband can start another increase if he wipes a $ 97500 area.
Bitcoin price regains momentum
Bitcoin price shaped a base higher than 93,500 dollars. BTC has started a new increase and managed to wipe the resistance area 95,500 dollars to determine the frequency of a greater increase.
Even the bulls paid the price over the resistance of 96,500 dollars. A height has been formed at 97,405 dollars and the prices are now for the gains. There was a slight decrease less than the level of 97,000 dollars, and the price of the REErmerning level was 23.6 % of the ups of the bullish transition from the tower drop 92,970 dollars to 97,405 dollars.
Bitcoin price is now trading above 95,000 dollars and the simple moving average is 100 hours. There is also a continuous upscale trend line that is formed with support at $ 96,350 on the watch chart for the BTC/USD pair.
On the upper side, the immediate resistance approaches the level of 97200 dollars. The first main resistance is located near the level of 97400 dollars. The following main resistance can be $ 97500. The closure may be above the resistance of $ 97,500 sends the price up. In the specified case, the price and the resistance level test may rise 98,800 dollars. Any other gains may send the price to the level of $ 100,000.
Another decrease in BTC?
If Bitcoin fails to rise over the resistance area 97,500 dollars, another negative correction may start. Immediate support on the negative side is near the level of $ 96500 and the direction line. The first main support is near the level of $ 96,000.
Next support is now near 95,200 dollars and the REERRERENT 50 % level of FIB to move up from the oscillation decrease 92,970 dollars to an increase of 97,405 dollars. Any other losses may send the price to support 94,500 dollars in the near term. The main support sits at $ 9,200.
Technical indicators:
MACD every hour – MACD is now acquired in the upscale area.
RSI clock (RSI) RSI for BTC/USD now higher than 50 level.
Main support levels – 96,500 dollars, followed by $ 95500.
Main resistance levels – 97500 dollars and $ 98,000.