Menu

Search

  |   Digital Currency

Menu

  |   Digital Currency

Search

Crypto Technicals: BTC/USD consolidates below 200-SMA, scope for weakness on bearish divergence

BTC/USD chart - Trading View 

Exchange - Coinbase

Support: 8196 (20-DMA); Resistance: 8601 (converged 21 and 55-EMA)

Technical Analysis: Bias neutral

BTC/USD trades 2.79% lower on the day at 8492 at 10:35 GMT.

The pair is extending sideways along 5-DMA, bias remains bearish.

Price action has slipped below 1H 200-SMA and the pair is consolidating the dip.

'Bearish divergence' seen on RSI and stochs which adds to the downside bias.

Immediate support is seen at 20-MA at 8197. Break below will see dip till 23.6% Fib at 7683.

Retrace above 1H 200-SMA could see minor gains. Test of Upper BB at 8823 likely.

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

  • Market Data
Close

Welcome to EconoTimes

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