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Crypto Technicals: BTC/USD capped below 5-DMA, intraday bias bearish

Mon, 23 Sep 2019, 04:51 am UTC

BTC/USD chart - Trading View

Exchange - Coinbase

Support: 9775 (110-EMA); Resistance: 10083 (5-DMA)

Technical Analysis: Bias Bearish

BTC/USD was trading below 10,000 mark at 9971, down 0.55% at 04:00 GMT.

The pair trades with a slightly bearish bias on the intraday charts, major trend remains flat as shown by the GMMA indicator.

Price action continues within the 'Symmetric Triangle' pattern and breakout will provide a clear directional bias.

Volatility is low and the pair finds series of strong supports till 9630 (trendline) - (9775 (110-EMA), 9765 (38.2% Fib)).

RSI is below 50 and ADX supports weakness. Breach at 'Triangle base support will drag prices lower.

Next major support lies at 9363 (21W EMA) ahead of 8498 (50% Fib). On the flipside, 55-EMA is strong resistance at 10258, breakout negates near-term bearish bias.

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