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Crypto Technicals: BTC/USD another failed attempt at 21-EMA, break above required for further gains
BTC/USD chart - Trading View
Exchange - Coinbase
Support: 8115 (5-DMA); Resistance: 8313 (21-EMA)
Technical Analysis: Bias slightly bullish
BTC/USD struggling to break past 21-EMA resistance, makes another failed attempt on Monday.
The pair was trading largely muted on the day at 8208 at 04:20 GMT after closing 0.32% lower in the previous session.
21-EMA offers stiff resistance at 8313. Consolidation likely to extend if pair fails to break above.
Technical indicators on intraday charts have turned slightly 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 support upside. Scope for test of 200-DMA at 8862. 200-DMA breakout will confirm upside continuation.
Major trend remains bearish. Rejection at 21-EMA and retrace below 5-DMA will see more weakness.