Menu

Search

  |   Digital Currency

Menu

  |   Digital Currency

Search

FxWirePro: BTC/USD upside capped by 5-DMA, bias neutral

BTC/USD is struggling for a decisive break above 5-DMA and is currently trading at 11785 levels at the time of writing (Bitstamp).

On the topside, a consistent break above 11853 (5-DMA) would see the pair testing 12610 (Cloud top)/12904 (10-DMA). Further strength would target 13211 (38.2% retracement of 19666 and 9222)/14047 (20-DMA)/14637 (50-DMA)/14872 (Cloud Top).

On the flipside, support is seen at 10812 (100-DMA) and a break below would target 10350 (trend line joining 5555.55 and 10162)/10000. Further weakness would drag it to 9349 (61.8% retracement of 2972.01 and 19666)/9222 (January 17 low)/9046 (trend line joining 11159 and 9222)/8575/8000.

Momentum studies: Bias remains bearish on the daily chart with RSI weak at 40, MACD line below the signal line, and 5-, 10-, and 20-DMAs are biased lower. However, stochs have rolled over from near oversold levels.

Recommendation: Wait for clear directional bias.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

October 23 19:00 UTC Released

ARTrade Balance

Actual

314 %

Forecast

150 %

Previous

-1127 %

October 23 14:00 UTC Released

EZConsumer Confid. Flash

Actual

-2.7 %

Forecast

-3.2 %

Previous

-2.9 %

January 31 00:00 UTC 382941382941m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 382941382941m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 394761394761m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 382941382941m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 394761394761m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 382941382941m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 382941382941m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 382941382941m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.