Crypto Technicals: BTC/USD pauses shy of $9000 mark, next bull target 38.2% Fib at 9532

BTC/USD chart - Trading View

Exchange - Coinbase

Support: 8465 (5-DMA); Resistance: 9532 (38.2% Fib)

Technical Analysis: Bias Bullish

BTC/USD pauses upside just shy of $9000 mark, bias remains bullish.

The pair has retraced from new 12-month highs at 8947 and was trading at 8721 at 05:45 GMT.

Spinning top on Monday's candle along with overbought oscillators and bearish divergence see the need for caution.

However, no signs of reversal seen in the pair. Upside resumption likely on break above $9000 mark.

Next bull target above 9000 lies at 9532 (38.2% Fib) ahead of 10,000 mark.

5-DMA is immediate support at 8461. Break below could see dip till 21-EMA at 7651.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.