Crypto Technicals: BTC/USD extends sideways with no clear directional bias
Mon, 16 Sep 2019, 04:23 am UTC
BTC/USD chart - Trading View
Exchange - Coinbase
Support: 9765 (38.2% Fib); Resistance: 10486 (50-DMA)
Technical Analysis: Bias Neutral
BTC/USD is extending sideways grind with no clear directional bias.
The pair has been trading in a 'Symmetric Triangle' pattern, breakout will provide clear direction.
Major trend has gone flat and price shows range trade around 55-EMA.
'Hammer' formation on the weekly chart raises scope for upside. Stochastics on weekly charts are at oversold.
Breakout of 'Symmetric Triangle' pattern with support from other indicators will be awaited for further direction.
Major resistance lies at 61.8% Fib at 11174, while 200-DMA is major support at 8046.
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