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Crypto Technicals: BTC/USD extends sideways with no clear directional bias

Monday, September 16, 2019 4:22 AM UTC

BTC/USD chart - Trading View

Exchange - Coinbase

Support: 9765 (38.2% Fib); Resistance: 10486 (50-DMA)

Technical Analysis: Bias Neutral

BTC/USD is extending sideways grind with no clear directional bias.

The pair has been trading in a 'Symmetric Triangle' pattern, breakout will provide clear direction.

Major trend has gone flat and price shows range trade around 55-EMA.

'Hammer' formation on the weekly chart raises scope for upside. Stochastics on weekly charts are at oversold.

Breakout of 'Symmetric Triangle' pattern with support from other indicators will be awaited for further direction.

Major resistance lies at 61.8% Fib at 11174, while 200-DMA is major support at 8046.

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Crypto Technicals: BTC/USD extends sideways with no clear directional bias

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