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Crypto Technicals: BTC/USD breaks above 38.2% Fib (9271), hits 12-week high at 9439

Wednesday, January 29, 2020 4:17 AM UTC

BTC/USD chart - Trading View

Exchange - Coinbase

Technical Analysis: Bias bullish

GMMA Indicator: Major Trend - Bullish; Minor Trend - Bullish

Overbought/ Oversold Index: Neutral

Volatility: Rising

Support: 9271 (38.2% Fib); Resistance: 9850 (trendline)

BTC/USD was consolidating previous session's gains, bias remains bullish.

The pair was trading 0.37% lower on the day at 9362 at around 04:10 GMT, after closing 5.60% higher in the previous session.

Price action has broken above 38.2% Fib at 9271 to hit 12-week high at 9439.

The pair has confirmed 200-DMA breakout and technical indicators are strongly bullish.

'Golden Cross' (bullish 50-DMA crossover on 200-DMA) confirmed on the 2H charts supports upside bias.

Next major hurdle lies at 9850 (trendline) ahead of weekly upper Bollinger band at 9948 and then the crucial 10,000 mark.

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Crypto Technicals: BTC/USD breaks above 38.2% Fib (9271), hits 12-week high at 9439

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