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BTCUSD Stuck in Limbo: $92K Range Battle – Breakout or Breakdown Next?

 

 

BTCUSD is trading in a narrow range with no proper direction. It hits an intraday high of $92392, and currently, it is about $92083.

Oscillators and moving averages to forecast the trend of BTCUSD

 

CMP- $92214

 

EMA (4-hour chart)

 

55-EMA- $90794

200-EMA- $90360


365-EMA- $92577. The pair trades above the short-term (55 EMA) and above 200, and below the 365 EMA long-term moving average.

 

Major Support - $89500. Any breach below $89500 will drag the pair down to $88356/$86650/$84440/$83000/$80000.

 

Major Resistance - $95000.  Any break above $95000 confirms minor bullishness, a jump to $95500/$97400/$98500/$10000.

 

Indicators (4-hour chart)

 

CCI(50)- Neutral

 

ADX-  Neutral

5. Investment Strategy for BTCUSD

It is good to buy on dips around $85000 with a stop loss around $80000  for target profits of $100000/$107000.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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