Copy link
Increase text size
Decrease text size
Link copied

Crypto Technicals: BTC/USD extends break above 200-DMA, $10,000 level in sight

Tue, 28 Jan 2020, 04:25 am UTC

BTC/USD chart - Trading View

Exchange - Coinbase

Technical Analysis: Bias Bullish

Overbought/ Oversold Index: Neutral

Volatility: Rising

Support: 8904 (200-DMA); Resistance: 8904 (200-DMA)

BTC/USD has broken major resistance at 200-DMA at 8904, bias is strongly bullish.

The pair was trading 2.45% higher at 9113 at around 04:10 GMT, after closing 3.50% higher in the previous session.

Technical indicators are biased higher. MACD is on verge of bullish crossover on signal line. Positive DMI dominance and rising ADX support uptrend.

The hourly charts have confirmed a 'Golden Cross' formation (bullish 50-DMA crossover on 200-DMA) adding upside support.

Major and minor trend are bullish as evidenced by the GMMA and rising volatility with oscillators at neutral can see further gains.

Immediate hurdle lies at 38.2% Fib at 9271 ahead of upper Bollinger band (weekly) at 9905. Gains upto 10K likely.

Failure to hold above 200-DMA will see dip till 21-EMA (8456). Breach at 21-EMA support to see near-term weakness.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $10,926.40 (+1.26%)
  • Ethereum (ETH) $358.73 (-0.24%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $228.96 (+2.69%)
  • Binance Coin (BNB) $26.48 (-0.15%)
  • Bitcoin (BTC) $10,926.40 (+1.26%)
Feb 21, 2020 (Friday)
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
Brazil to launch new payment system in response to cryptocurrencies
Digital currency exchange Coinbase Pro lists Kyber Network token
Norwegian Air to soon start accepting crypto payments
Swedish central bank begins CBDC pilot with Accenture
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
Telecom companies complete cross-carrier mobile payments using blockchain
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
South Korean ICO project discontinued, to return $7.5M to token holders
Samsung maintains crypto support in soon-to-launch Galaxy S20
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
Coinbase becomes first crypto company to receive Visa principal membership
Dubai Economy and six banks launch KYC Blockchain Consortium
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.