• Sun, 26 May 2019, 11:14 PM
  • All times are UTC
  • Edition:
Link copied

FxWirePro: BTC/USD hovers around 5-DMA, further bullishness only on breach of cloud resistance

Fri, 31 Aug 2018, 07:10 am UTC

(Refer BTC/USD chart on Trading View)

BTC/USD dropped to 6792 levels on Thursday before closing at 6984 levels (Bitstamp).

The pair is currently hovering around 5-DMA at 6980 levels at the time of writing.

On the top side, the pair’s upside is capped by 7006 (trend line joining 8496 and 7125) and a break above would target 7068 (90-EMA)/7135 (cloud bottom)/7197 (110-EMA)/7300/7399 (1w 20-SMA).

On the downside, the pair has found support near 6825 (2h 90-EMA) and any violation would drag it to 6798 (10-DMA)/6700/6649 (38.2% retracement of 5880 and 7125.28)/6576 (20-DMA)/6500.

Bias appears neutral on the daily chart as the pair is trading in a narrow range forming a doji pattern at the time of writing. Yesterday’s hammer pattern suggests bulls are trying hard to maintain the pair’s upward momentum.

The pair faces stiff resistance at the cloud bottom and further bullishness could be confirmed only on a break above.

Recommendation: Wait for clear directional bias.

<Copyright © TokenPost. All Rights Reserved. >

The commenting service is available only after having logged in.
  • Bitcoin (BTC) $8,643.86 (+7.27%)
  • Ethereum (ETH) $266.06 (+5.51%)
  • XRP (XRP) $0.408600 (+5.54%)
  • Bitcoin Cash (BCH) $431.74 (+6.19%)
  • Litecoin (LTC) $110.95 (+8.20%)
  • Bitcoin (BTC) $8,643.86 (+7.27%)
May 24, 2019 (Friday)
Crypto Technicals: ETH/USD retraces above 1H 200-SMA, 'Hammer' on daily charts signals further gains
German engineering giant Bosch trials Ethereum blockchain
Crypto Technicals: BTG/USD grinds higher along 21-EMA, breakout at 61.8% Fib (25.74) will accentuate gains
Bank of Russia to review proposal on gold-backed cryptocurrency
Blockchain software firm Unstoppable Domains raises $4M from Draper Associates, Boost VC
Crypto Technicals: LTC/USD bounces off 21-EMA support, next bull target $109
Robinhood Crypto is now in New York
Facebook to launch its cryptocurrency 'GlobalCoin' in Q1 2020: Report
California resident sued for alleged $26M crypto Ponzi scheme
AT&T teams up with BitPay to become the first telecom to accept cryptocurrency payments
Rep. Swalwell accepting bitcoin donations in bid for US presidency
Grayscale receives FINRA approval to open Ethereum Trust to individual investors
Indian telco Airtel selects IBM for blockchain-based pan India anti-spam call solution: Report
Binance CEO CZ seeks compensation for reputational damage from Sequoia
Overstock.com’s blockchain subsidiary signs MOU with Lusaka city to develop land governance platform
Toyota, University of Tokyo, TRENDE to start testing blockchain-based electricity trading solution
Russia's NSD to roll out security token blockchain in June
May 23, 2019 (Thursday)
Crypto Technicals: IOT/USD holds 21-EMA support, retrace till 0.3185 (200-DMA) likely on break below
Coinstar extends bitcoin buying service to 21 US states
Crypto Technicals: BTC/USD bounces off session lows with 'Hammer' formation, bias neutral
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.