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FxWirePro: BTC/USD hovers around 5-DMA, consistent break above 1h 100-SMA to see minor upside

Mon, 10 Sep 2018, 07:38 am UTC

(Refer BTC/USD chart on Trading View)

BTC/USD managed to close above 78.6% fib retracement of 5880 and 7125.28 on September 9 after it fell to 6094.

It is currently hovering around 5-DMA at 6324 at the time of writing (Bitstamp).

The pair’s upside is currently capped by 6367 (1h 100-SMA) and a consistent break above would see it testing 6405 (23.6% retracement of 7411.85 and 6094.38)/6500. Further strength would target 6591 (2h 90-EMA)/6740 (10-DMA).

On the downside, support is seen at 6207 (78.6% retracement of 5880 and 7125.28) and any violation would target 6158 (trend line joining 5774.72 and 5995.75)/6094 (September 9 low). Further weakness would drag it to 6000/5920 (February 6 low).

Technical indicators are bearish on the daily chart and intraday charts.

Watch out for a break above 1h 100-SMA for minor upside in the pair.

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  • Bitcoin (BTC) $8,696.75 (+7.94%)
  • Ethereum (ETH) $268.07 (+6.34%)
  • XRP (XRP) $0.413000 (+6.78%)
  • Bitcoin Cash (BCH) $434.01 (+6.71%)
  • Litecoin (LTC) $112.10 (+8.88%)
  • Bitcoin (BTC) $8,696.75 (+7.94%)
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