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Crypto Technicals: Bitcoin continues grind higher, edges closer to the crucial $10,000 mark

BTC/USD chart - Trading View 

Exchange - Coinbase

Support: 9387 (5-DMA); Resistance: 9948 (April 2018 high)

Technical Analysis: Bias Bullish

King Coin extends upside past $9800 to hit new multi-month highs at 9812.06.

BTC/USD trades with a bullish bias and momentum could carry the pair to test $10,000 mark.

Oscillators have approached overbought levels, bit no signs of reversal seen.

MACD and ADX suggest upside continuation. Price action has broken above 38.2% Fib retracement and eyes crucial $10K mark.

Bulls could find stiff resistance at weekly cloud at 10153. Breakout of weekly cloud required for upside continuation.

5-DMA is immediate support at 9388. Minor correction could test 21-EMA support at 8655.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
 

By Anupama Grandhi
  • Market Data
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