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BTC/USD : Minor trend line breakout and bullish divergence (target $5800)

Fri, 21 Dec 2018, 09:53 am UTC

BTC/USD has halted its 50 days of weakness and shown a minor recovery. The pair has declined almost $4400 nearly 57%. It has recovered nearly 35% from low of $3215. it is currently trading around $4145 (1.79% lower).

The pair has broken minor trend line resistance at $3600 and jumped till $4299 yesterday. The near-term resistance is around $4458 (23.6% fib) and any break above will take the pair till $5000/$5232/$5800.

On the lower side, near-term support is around $4000(200- 4 HMA) and any violation above targets 3585 (100-4 H MA)/3215.

It is good to buy on dips around 4000 with SL around 3590 for the TP of $5000/$5235/$5800.

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  • Bitcoin (BTC) $9,234.85 (+0.83%)
  • Ethereum (ETH) $267.42 (-0.57%)
  • XRP (XRP) $0.428800 (-1.20%)
  • Litecoin (LTC) $134.55 (-2.18%)
  • Bitcoin Cash (BCH) $409.86 (-1.71%)
  • Bitcoin (BTC) $9,234.85 (+0.83%)
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