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Crypto Technicals: BTC/USD pauses recovery at 21-EMA (8326), break above to buoy Bitcoin bulls

BTC/USD chart - Trading View 

Exchange - Coinbase

Support: 8094 (5-DMA); Resistance: 8326 (21-EMA)

Technical Analysis: Bias turning slightly bullish

BTC/USD is consolidating weekend gains, trades rangebound at 8242 at 04:00 GMT.

The pair has paused upside at 21-EMA resistance at 8327, break above will see upside continuation.

Technical indicators on intraday charts have turned bullish raising scope for further upside.

Price action has broken above 200H SMA and GMMA on the hourly chart shows shift in trend to bullish.

Break above 21-EMA will buoy Bitcoin bulls. Scope for test of 200-DMA at 8847. Further upside only on decisive break above.

Major trend remains bearish. Rejection at 21-EMA will see downside resumption. 
 

By Anupama Grandhi
  • Market Data
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