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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