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Bitcoin price started a new increase and tested a 108,800 dollar area. BTC is struggling to rise more and correct gains of less than $ 108,000.
- Bitcoin has started a new increase over the $ 107,000 area.
- The price is traded above 106,800 dollars and a simple moving average 100 hours.
- There was a lower break from the bullish trend line with support at 107,800 dollars on the watch chart for the BTC/USD (data feeding from Kraken).
- The husband can start with a new increase if she remains over the area of $ 105500.
Bitcoin price begins with a fresh increase
Bitcoin price has started a new increase in the subsidy area of $ 104,500. BTC rose above the level of 105,500 dollars and $ 10,200 to enter a positive area.
The price has jumped over the resistance of $ 108,000. However, the bears remained active amid the growing global conflict concerns. A height has been formed at 108,898 dollars and the prices are now correcting the gains. There was a step less than $ 108,000. The price fell below the FIB rate by 23.6 % of the upward transition from the elevation of the swing 104,529 dollars to an increase of 108,898 dollars.
Moreover, there was a lower break from the upper direction line with support at $ 107,800 on the watch chart for the BTC/USD pair. Bitcoin is now trading over $ 106,800 and a simple moving average 100 hours.
On the upper side, the immediate resistance approaches the level of $ 107600. The first key resistance approaches the level of $ 108,000. The following key resistance can be 108,800 dollars. There may be a higher closure of 108,800 dollars to the highest price. In the specified case, the price and the resistance level of the resistance level of $ 110,000 may rise. Any other gains may send the price to the level of $ 112,000.
More losses in BTC?
If Bitcoin fails to rise over the 108,000 -dollar resistance area, it may begin to decrease another. Immediate support is approaching the level of 106,700 dollars and the REERRERENT level 50 % of the FIB to move from the rise of 104,529 dollars to an increase of 108,898 dollars. The first major support is near the level of 106200 dollars.
The next support is now near the $ 105500 region. Any other losses may send the price towards $ 103,500 in the short term. The main support sits at $ 102,000, below, which may gain BTC with a declining momentum.
Technical indicators:
MACD every hour – MACD is now acquired in the Habboudia area.
RSI Hour (Relative Power Index) – RSI for BTC/USD is now near level 50.
Main support levels – 106,700 dollars, followed by $ 10,500.
Main resistance levels – 107,600 dollars and $ 108,000.
The post Bitcoin Price Struggles for Momentum Amid Rising Global Conflict Fears first appeared on Investorempires.com.
