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Crypto Technicals: BTC/USD pauses upside, 'spinning top' suggests indecision, watch for break below hourly cloud for weakness

BTC/USD chart - Trading View 

Exchange - Coinbase

Support: 7970 (1H 55-EMA); Resistance: 8488 (July 2018 high)

Technical Analysis: Bias Bullish

BTC/USD has paused upside and is extending sideways for the 3rd straight session

Major trend is definitely bullish, with no major indication of reversal, that said, a healthy correction likely.

Price action has formed a spinning top at highs suggesting indecision among bulls

Oscillators are at overbought levels, and volatility on the intraday charts is shrinking

The pair is currently holding support at hourly cloud and 55-EMA, break below will see weakness

Also, 4 hourly charts show bearish divergence on RSI and Stochs which adds to the bearish bias

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

Actual

50 %

Forecast

Previous

48.6 %

January 31 00:00 UTC 813061813061m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 813061813061m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 824881824881m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 813061813061m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 824881824881m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 813061813061m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 813061813061m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 813061813061m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

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