🚀 Bitcoin aims for new heights — is the next surge already here?
Bitcoin has fallen again to $103,200. BTC is stabilizing and could bounce back above $106,000.
Bitcoin has fallen below $106,500 again.
The price is above $105,000 and the 100-hour SMA.
On the BTC/USD hourly chart, a negative trend line connects to resistance at $105,550. The pair could rise again if it breaks through the $106,000 barrier. The price of Bitcoin is experiencing an increase.
Bitcoin has fallen below $106,500 again. Below $105,500, BTC tested $103,200, the next support.
After a low of $103,200, the price reinforces the losses. There was a rise above $104,200 and the Fibonacci retracement level of 23.6% from the last collapse from the peak at $110,500 to the low at $103,200.
Bitcoin is above $105,000 and the 100-hour SMA. The resistance at $105,550 is imminent to the upside. The BTC/USD hourly chart shows a negative trend line with resistance at $105,550.
The first major resistance is around $106,000. The next hurdle could be $106,800. It is around the 50% Fibonacci retracement level of the last slide from the peak at $110,500 to the low at $103,200.
A close above the resistance of $106,800 could drive prices higher. The price could rise to the resistance of $108,000. Further advances could push the price beyond $110,000.
Another drop for BTC?
Bitcoin could fall again if it fails to break through $106,000. Immediate support is around $105,000. Near $104,200, there is the first major support. Around $103,200, is the next support. Further losses could push the price towards $102,500. BTC could drop below $101,200, the main support.
Major support levels: $105,000, $104,200.
Major resistance levels: $106,000, $106,800.
