#BTC $BTC
Bitcoin price started a recovery wave above the $105,000 zone. BTC is now consolidating and might attempt to clear the $106,500 resistance.
Bitcoin started a recovery wave above the $105,000 zone.
The price is trading above $105,000 and the 100 hourly Simple moving average.
There is a bullish trend line forming with support at $105,350 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could start a fresh decline if it breaks the $104,000 support zone.
Bitcoin Price Restarts Increase
Bitcoin price started a fresh decline and traded below the $102,500 support zone. BTC even traded close to the $100,000 zone before the bulls appeared.
A low was formed and the price recovered above the $103,500 resistance. The bulls even pushed the price above the $105,000 resistance. A high was formed at $106,426 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $100,400 swing low to the $106,426 high.
Bitcoin is now trading above $105,000 and the 100 hourly Simple moving average. There is also a bullish trend line forming with support at $105,350 on the hourly chart of the BTC/USD pair.
