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Bitcoin price corrects the gains from the 95,000 dollar area. BTC has returned to less than 94,000 dollars and the support zone may test 91200 dollars in the short term.
- Bitcoin has started a simple negative correction under the 94,000 dollar area.
- The price is traded to less than 94,000 dollars and the simple moving average is 100 hours.
- There is a declining directional line connected to resistance at 94,000 dollars on the watch chart for the BTC/USD (data feeding from Kraken).
- The husband can start another increase if he wipes the 94200 dollar area.
Bitcoin price begins on the negative side
Bitcoin remained stable above the level of 90,000 dollars and started a new increase. BTC managed to climb over the resistance levels 91,500 dollars and 94,000 dollars.
The bulls were able to pump the price over the resistance of 94,500 dollars. The last highest was formed at 95348 dollars and the price began negatively. There was a decrease less than 94,500 dollars and $ 94,000. A decrease has been formed at 92,900 dollars, and the price now unifies the losses be below the FIB rate by 23.6 % of the transition to the bottom of the alternative of 95,348 dollars to less than 92,900 dollars.
The Bitcoin price is now trading to less than $ 94,000 and the simple moving average is 100 hours. There is also a declining trend line that is formed with resistance at $ 94,000 on the watch chart for the BTC/USD.
On the upper side, the immediate resistance approaches the level of 93,650 dollars. The first key resistance approaches the level of $ 94,000. Resistance to the following key can be 94,150 dollars and the FIB declining level by 50 % of the 95348 dollar tower to the lowest level in 92,900 dollars.
A higher closure may send $ 94,150 price to the price up. In the specified case, the price and the resistance level test may rise 94,500 dollars. Any other gains may send the price towards the level of 95500 dollars.
More losses in BTC?
If Bitcoin fails to rise above the 94,000 dollar resistance area, it may continue to move. Immediate support on the negative side is near the level of $ 92800. The first main support is near the level of $ 92,000.
The next support is now near 91,500 dollars. Any other losses may send the price to support 90,500 dollars in the short term. The main support sits at $ 90,000.
Technical indicators:
MACD every hour – MACD is now acquired in the Habboudia area.
RSI clock (RSI RSI) for BTC/USD is now less than 50 level.
Main support levels – 92,800 dollars, followed by $ 92,000.
Main resistance levels – $ 94,000 and 94,150 dollars.
The post Bitcoin Price Sees Short-Term Dip — Bulls Plot Their Next Move first appeared on Investorempires.com.
