• Sat, 24 Aug 2019, 06:43 AM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

FxWirePro: BTC/USD rangebound below 200-DMA, break above to see further upside

Tue, 31 Jul 2018, 07:31 am UTC

BTC/USD fell to 7853 levels on Monday before closing at 8160 levels (Bitstamp).

The pair is currently trading at 8125 levels as it tries to hold key support at 10-DMA.

On the topside, resistance is seen at 8336 (trend line joining 11688 and 8496.96) and a break above would target 8443 (200-DMA)/8500. Further strength would target 8590 (May 20 high)/8850 (113% extension of 5774.72 and 8496.96)/9000.

On the flipside, a violation of key support at 8053 (10-DMA) would drag the pair to 7866(3h 100-SMA)/7734 (4h 90-EMA). Further weakness would see it testing 7592 (100-DMA)/7459 (20-DMA).

Momentum Studies: Overall bias remains neutral as the pair extends consolidation. However, the formation of bullish flag pattern suggests scope for further upside on a decisive break above 200-DMA.

Recommendation: Good to go long on break above 200-DMA. SL: 7800. TP: 8500/8600.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $10,333.40 (+1.44%)
  • Ethereum (ETH) $192.35 (+0.09%)
  • XRP (XRP) $0.273000 (+0.54%)
  • Bitcoin Cash (BCH) $314.26 (+1.47%)
  • Litecoin (LTC) $74.23 (+0.42%)
  • Bitcoin (BTC) $10,333.40 (+1.44%)
Aug 23, 2019 (Friday)
11:35
Stablecoin project Terra receives funding from HashKey Capital
10:49
Three of the founding members of Libra Association consider backing out: Report
08:55
Overstock's Patrick Byrne steps down as CEO
08:52
Pundi X brings XPOS crypto payments to Venezuela's Traki retail stores
07:22
Blockchain startup Blockstack scores strategic investment from Japan's Recruit Holdings
07:19
BitGo announces support for multi-signature EOS wallet and custody services
06:39
US Treasury blacklists crypto addresses of suspected Chinese fentanyl traffickers
06:14
Chainalysis launches ‘Chainalysis KYT Alerts’ to detect suspicious cryptocurrency activity in real-time
05:13
Cryptocurrencies used to buy fentanyl, other illicit drugs: White House
05:04
Blockchain energy startup Power Ledger extends energy trading trial in Fremantle
03:53
Blockchain accelerator initiatives launched at the University of California campuses
Aug 22, 2019 (Thursday)
13:05
Crypto exchange Coincheck mulls launching IEO Platform
12:46
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:53
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:42
Sierra Leone launches blockchain-based National Digital Identity Platform
10:43
Blockchain startup Blocko secures $7.4M in Series B+ round from major South Korean financial institutions
09:52
Crypto Technicals: Ethereum Classic ignores crypto space weakness, extends gains to break above 200-DMA
09:16
Former Zaif exchange owner Tech Bureau to discontinue crypto business after completing customer refunds
08:32
Crypto Technicals: XLM/USD bearish trend intact, hits multi-month lows at 0.06542
07:33
Russian firm ICORating settles $270K fine with SEC for concealing ICO touting payments
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft