Cryptocurrency Derivatives Series: A Glance at Features of Bakkt’s Bitcoin Futures Contracts of Daily and Monthly Tenors
Cryptocurrency Derivatives Series: CME Group Writes CFTC to Increase Open Positions of Bitcoin Futures Contract
Crypto Technicals: BCH/USD fails to extends weakness below 200-DMA, retrace above will see upside resumption
Stable-Coin Series: Make-it or Break-it Day For Facebook's Crypto Project as Libra Team To Meet BIS and FSB Members in Basel For Risk Assessment
FxWirePro: USD/TWD fails to break key resistance at 31.02 mark, sustained close above requires for upside rally
Crypto Technicals: IOT /USD forms successive Dojis at cloud resistance, dents scope for upside continuation
Regulatory Series on Cryptocurrencies: Saga of QuadrigaCX Continues As Canadian Revenue Agency Gears up For Tax-Audits
Crypto Technicals: BTC/USD hovers around $8000 mark, poised for upside resumption
BTC/USD chart - Trading View
Exchange - Coinbase
Support: 7764 (5-DMA); Resistance: 9532 (38.2% Fib)
Technical Analysis: Bias Bullish
BTC/USD trades in a narrow range on the day, bias remains bullish.
Price action is consolidating around $8000 mark, no major signs of reversal yet.
Stochastics RSI has approached oversold levels and RSI is holding above 60 level.
Turn in RSI along supported with rise in 5-DMA will see resumption of upside.
Break below 5-DMA finds next immediate support at 21-EMA at 7000.
Next bull target above 8000 lies at 9532 (38.2% Fib) ahead of 10,000 mark.
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.