BTC/USD is trading higher on Friday as it broke above 20-DMA. It is holding above 8000 levels at 8131 levels at the time of writing (Bitstamp).

On the topside, the pair is now targeting 8372 and further strength would target 8464 (55-EMA)/8623 (50-DMA)/9053 (90-EMA)/9593 (200-SMA).

On the downside, support is likely to be found at 7823 (1h 20-SMA) and a break below would target 7451 (2h 20-SMA)/7258 (20-DMA). Further weakness would drag it to 7069 (10-DMA)/ 6544 (trend line joining 5920.72 and 6427.16).

Momentum studies: Bias appears to be turning bullish on the daily chart with RSI above 50, stochs biased sharply higher, and MACD line above the signal line. Intraday bias is also bullish.

A jump till 8500 levels could be on the cards.

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