|   Digital Currency


  |   Digital Currency


Crypto Technicals: BTC/USD recovery lacks traction, finds stiff resistance at 55-EMA (10413)

BTC/USD chart - Trading View 

Exchange - Coinbase

Support: 9702 (100-DMA); Resistance: 10408 (55-EMA)

Technical Analysis: Bias Bearish

BTC/USD recovery from 2-week lows has paused at 55-EMA which is offering stiff resistance.

Technical indicators are still bearish for the pair, scope for resumption of weakness.

RSI is below 50 mark and Stochs are still biased lower. Bearish MACD crossover on signal line and ADX support weakness.

Price action is below cloud and bearish 5-DMA crossover on 20-DMA adds to the bearish bias.

We see scope for retest of trendline support at 9820. Breach below will see further downside.

On the flipside, breakout above 55-EMA will see test of 21-EMA (10795). Breakout above will see further upside.

  • Market Data

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.