Bitcoin is hovering above the support level at $83,828, a key level on the price chart. There are two main resistance levels, R1 and R2, at $91,361 and $98,019 respectively. The $100,000 level represents another major resistance for Bitcoin.
The price of Bitcoin has been stable for more than two weeks, and it remains to be seen whether it will experience a rebound or further decline. The two main momentum indicators on the daily BTC/USDT price chart show positive underlying momentum in the direction of Bitcoin’s price.
The Relative Strength Index (RSI) reads 43 and is moving towards neutral, while the MACD indicator shows consecutive green bars.
BTC/USDT Daily Price Chart | Source: TradingView
The three exponential moving averages, at the 20, 50, and 100 levels, come into play when Bitcoin’s price sees a daily candle close above the R2 resistance level. A correction could push Bitcoin’s price to test the $83,000 support level.
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GateUser-dfeb0325
· 12-07 04:20
Hopefully BTC drops to 75k so it’ll be awesome, boss
- Bitcoin Price Analysis: Key Levels to Watch:
Bitcoin is hovering above the support level at $83,828, a key level on the price chart. There are two main resistance levels, R1 and R2, at $91,361 and $98,019 respectively. The $100,000 level represents another major resistance for Bitcoin.
The price of Bitcoin has been stable for more than two weeks, and it remains to be seen whether it will experience a rebound or further decline. The two main momentum indicators on the daily BTC/USDT price chart show positive underlying momentum in the direction of Bitcoin’s price.
The Relative Strength Index (RSI) reads 43 and is moving towards neutral, while the MACD indicator shows consecutive green bars.
BTC/USDT Daily Price Chart | Source: TradingView
The three exponential moving averages, at the 20, 50, and 100 levels, come into play when Bitcoin’s price sees a daily candle close above the R2 resistance level. A correction could push Bitcoin’s price to test the $83,000 support level.