Cryptocurrency Derivatives Series: FxWirePro’s BTC Long Hedges In Play When Bitcoin Skyrockets To $9k Territory
Blockchain Revolution Series: IBM Unveils New Blockchain Platform To Assist Emergency Inventories For Covid-19 Care
Blockchain Revolution Series: Central Bank’s Mounting Obsession On CBDC And Blockchain Amid Pandemic Crisis
Digital Currency Revolution Series: Quick Glance At Interest-Bearing Accounts For Holding Bitcoin On ‘Blockchain.com’
Digital Currency Revolution Series: A Glimpse At Scope For Potential Digital Forms Of Euro, Dollar & Yuan Amid Pandemic Covid-19 Crisis
Crypto Technicals: BTC/USD fails to close below $9000 mark, consolidates above 5-DMA ahead of next bullish leg
BTC/USD chart - Trading View
Exchange - Coinbase
Support: 9084 (5-DMA); Resistance: 10,000 (psychological level)
Technical Analysis: Bias Bullish
BTC/USD has resumed upside after a brief pause on Monday's trade.
The pair is holding marginal gains on the day, up 0.92% at 9162 at 06:25 GMT.
Correction failed to close below $9000 mark which is a bullish signal.
There are no major signs of reversal on the technical indicators on the intraday charts.
Upside has paused shy of 38.2% Fib at 9532 and break above could see test of 9948 (April 2018 high).
Close below $9000 mark will see dip till 8441 (21-EMA). Violation there could see further weakness.
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.