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Crypto Technicals: BTC/USD extends correction, eyes 5700 on break below support at 21-EMA

BTC/USD chart - Trading View 

Exchange - Coinbase

Support: 6588 (21-EMA); Resistance: 8488 (Jul 24 high) 

Technical Analysis: Bias Neutral

BTC/USD is extending weakness for the 2nd straight session.

The pair is currently holding support at 21-EMA, break below will accentuate weakness.

Major trend is definitely bullish, with no major indication of reversal.

But oscillators are at overbought levels, and volatility on the intraday charts is shrinking, scope for correction.

RSI is on verge of rollover from overbought levels, bearish divergence on RSI and Stochs adds to the downside bias.

Break below 21-EMA could see weakness till 5700 (trendline support)

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

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July 2 15:00 UTC Released

DKCurrency Reserves

Actual

449.6 Stale

Forecast

Previous

451.7 Stale

July 2 13:45 UTC Released

USISM NY Biz Conditions

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50 %

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48.6 %

January 31 00:00 UTC 773354773354m

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2016 bln ARS

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January 31 00:00 UTC 773354773354m

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 785174785174m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 773354773354m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 785174785174m

ARTrade Balance

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Forecast

Previous

-1541 %

January 31 00:00 UTC 773354773354m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 773354773354m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 773354773354m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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