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Crypto Technicals: BTC/USD holds 50-DMA support, momentum studies bearish

Wed, 13 Nov 2019, 04:33 am UTC

BTC/USD chart - Trading View

Exchange - Coinbase

Support: 8540 (50-DMA); Resistance: 8817 (5-DMA)

Technical Analysis: Bias Bearish

BTC/USD trades 1.01% lower on the day at 8721 at 04:15 GMT, bias remains bearish.

The pair is holding support at 50-DMA, break below will see further weakness.

RSI is below 50 and bias is lower, momentum studies are strongly bearish.

The pair is consolidating below 21-EMA, bearish MACD crossover raises scope for weakness.

Bollinger bands are narrow and shrinking, volatility is likely to be low. Breach at 50-DMA support to see weakness.

5-DMA is immediate resistance at 8818. Bearish invalidation only above 200-DMA.

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  • Bitcoin (BTC) $7,201.69 (-0.94%)
  • Ethereum (ETH) $143.06 (-2.24%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $205.96 (-0.95%)
  • Litecoin (LTC) $43.90 (-1.54%)
  • Bitcoin (BTC) $7,201.69 (-0.94%)
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