BTC Faces Growing Pressure as Volatility Rises — Key Levels
koinmilyoner
Updated at: 4 hours ago
{"content":"BTC Faces Growing Pressure as Volatility Rises — Key Levels to Watch
Bitcoin struggles to stay above $113,500 and $114,000. BTC is consolidating and may go below $110,000.
Bitcoin fell again after failing to break $114,000 barrier.
Prices are below $113,000 and the 100-hour Simple moving average.
The hourly BTC/USD chart shows a negative trend line with resistance at $112,000.
The pair may fall if it breaks $110,200.
Bitcoin Price Challenges
Bitcoin began a rebound over $112,500. BTC overcame $112,800 and $113,000 barriers.
The price rose beyond the 50% Fib retracement level of the latest slide from $115,975 swing high to $110,000 low. Bulls even broke $113,500 resistance. However, upside challenges abound.
Bitcoin has fallen below $113,000 and the 100-hour SMA. The hourly BTC/USD chart shows a negative trend line with resistance at $112,000.
Near $112,000 is immediate upward barrier. First major resistance is at $113,000. The 61.8% Fib retracement level of the latest slide from the $115,975 swing high to the $110,000 low may be next resistance around $113,700.
A closing over $113,700 barrier might boost prices. The price may soar to $114,500 resistance. More advances might push the price beyond $115,250. Bulls may face $115,500 next.
Another BTC Drop?
Bitcoin may fall if it fails to break $113,000 barrier. Near $110,200 is immediate support. The first substantial assistance is about $110,000.
Around $109,500 is the next support. More losses might push the price toward $108,500. BTC may struggle to rebound below $107,200, its key support.
Major Support Levels: $110,200, $110,000.
Major Resistance Levels: $112,000, $113,000.
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