Bitcoin price objectives upside breakout – Can bulls can push the price further than key levels?

Bitcoin Price started a recovery wave and traded above $ 114,200. BTC now consolidates profits and is confronted with obstacles near $ 114,750.

• Bitcoin started a new wave of recovery above the $ 114,000 zone.
• The price is traded above $ 114,000 and the simple simple advancing average of 100 hours.
• There is a bullish trend line in the short term that forms with support at $ 113,300 on the hour table of the BTC/USD pair (data feed from Kraken).
• The couple can continue to go up if it knew the $ 114,750 zone.

Bitcoin Price Eyes Op Head Pause

Bitcoin Price succeeded in staying above $ 112,000 zone and started a recovery wave. BTC settled above the $ 113,200 resistance zone to start the current move.

The bulls could pump the price above the $ 114,000 and $ 114,200 pumps. The bulls even erased the $ 114,500 level. A high was formed at $ 114,770 and the price is now consolidating profit. There was a small decrease below the 23.6% FIB racement level of the upward movement of the $ 108,677 Swing low to $ 114,771 high.

Bitcoin now acts above $ 114,200 and the 100 simple advancing average per hour. By the way, there is a bullish trend line in the short term that forms with support for $ 113,300 on the hour table of the BTC/USD pair.

Immediate resistance at the top is near the level of $ 114,750. The first key resistance is near the level of $ 115,000. The next resistance can be $ 115,500. A close -up resistance of $ 115,500 can further send the price. In the case mentioned, the price could rise and the resistance of $ 116,500 tests. More profits can send the price to the level of $ 117,500. The next barrier for the Bulls can be $ 118.00.

Another drop in BTC?

If Bitcoin does not rise above the $ 114,750 resistance zone, this can start a new decline. Immediate support is near the level of $ 113,300 and the trend line. The first major support is near the level of $ 112,200.

The next support is now near the $ 111,750 zone. More losses can send the price in the short term to the support of $ 111,000. The most important support is $ 110,500, including BTC may have difficulty recovering in the short term.

Technical indicators:

MACD per hour – The MACD now wins pace in the bullish zone.

Picly RSI (Relative strength -Index) -The RSI for BTC/USD is now above 50 -level.

Important support levels – $ 113,300, followed by $ 112,200.

Large resistance levels – $ 114,750 and $ 115,000.