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Crypto Technicals: BTC/USD extends marginal gains above 5-DMA, bias neutral
BTC/USD chart - Trading View
Exchange - Bifinex
Support: 5201 (5-DMA); Resistance: 5488 (Apr 10 high)
Technical Analysis: Bias Slightly bullish
- BTC/USD extends marginal gains above 5-DMA, trades 0.75% higher at 5294 at 0940 GMT
- GMMA indicator shows short-term averages are above longer-term averages and edging higher
- Price action has edged above daily cloud and 200-DMA. However, technical indicators do not support upside for now.
- Also Doji formation on previous week's candle keeps scope for downside.
- Immediate resistance is seen at 5370 (trendline), break above targets 5501 (50% Fib)
- Retrace below 200-DMA negates the bullish bias
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.