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Bitcoin Buffeted by Oil Surge: BTCUSD Eyes USD 80,000 Recovery Amid Volatility

 

As crude oil prices rose, BTCUSD faded its radiance. It is presently trading around $68236 and has reached a low of $65618.

 

Technicals

CMP -$68187

Trend

4- Hour chart

Value

 

 

55 EMA

$68217

CMP > 55 EMA

Bullish

200- EMA

$70596

CMP <200- EMA

Bearish

365- EMA

$75296

CMP < 365 EMA

Bearish

 

Major support- $64000/$60000/$52500/$50000. Minor bullishness only above $72500.

 

Momentum indicator (4-hour chart)

Inference

Value

CCI(50)

Bullish

97.60

ADX

Bullish

 Strength increased from 14.59 to 16.25

It is good to buy on dips around $67000 with SL around $64000 for a TP of $80000.

 

 

 

 

 

 

 

 

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