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Crypto Technicals: BTC/USD consolidates previous session's spike, 'Golden Cross' keeps scope for further upside

Wed, 19 Feb 2020, 05:57 am UTC

BTC/USD chart - Trading View

Exchange - Coinbase

Technical Analysis: Bias Bullish

GMMA Indicator: Major Trend - Bullish; Minor Trend - Bullish

Overbought/ Oversold Index: Neutral

Volatility: High and Rising

Support: 9969 (5-DMA); Resistance: 10540 (Trendline resistance)

BTC/USD was trading 0.72% lower on the day at 10114 at around 05:30 GMT.

The pair is consolidating previous session's gains, bias remains bullish.

Price action has bounced off 21-EMA support and has retraced above 5-DMA.

'Golden Cross' (bullish 50-DMA crossover on 200-DMA) is likely to keep scope for further gains.

Stiff resistance seen at 10540 (Major trendline resistance). Break above to see upside continuation.

Next major hurdle aligns at 61.8% Fib at 11026 ahead of 11979 (74.6% Fib).

5-DMA is immediate support at 9973. Break below 21-EMA (9766) to see near-term weakness.

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  • Bitcoin (BTC) $6,855.88 (+1.46%)
  • Ethereum (ETH) $145.36 (+2.10%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $238.18 (+0.78%)
  • Bitcoin SV (BSV) $178.83 (+0.18%)
  • Bitcoin (BTC) $6,855.88 (+1.46%)
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