#cryptotradingpro

Another Decline In $BTC ?

If Bitcoin fails to rise above the $105,500 resistance zone, it could start another correction. Immediate support on the downside is near the $104,500 level. The first major support is near the $104,200 level and the trend line.

The next support is now near the $103,500 zone. Any more losses might send the price toward the $102,200 support in the near term. The main support sits at $100,500, below which BTC might gain bearish momentum.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $104,200, followed by $103,500.

Major Resistance Levels – $105,500 and $106,000.