Crypto Technicals: BTC/USD holds above 200-DMA, buying interest at lows limits downside
Fri, 08 Nov 2019, 03:32 am UTC
BTC/USD chart - Trading View
Exchange - Coinbase
Support: 9187.99 (200-DMA); Resistance: 9574.89 (100-DMA)
Technical Analysis: Bias Neutral
BTC/USD is trading in narrow range with session high at 9246.00 and low at 9166.55.
Downside in the pair has held above $9000 mark and minor recovery attempts seen in the pair.
'Hammer' and 'Doji' formations on the hourly and 4-hourly charts shows buying pressure at lows.
Price action has held above 200-DMA support, weakness only on decisive break below.
The pair is attempting to retake 200H SMA (9248.62) and break above could see more upside.
Daily price action remains trapped between major MAs (100-DMA at 9574 and 200-DMA at 9187).
Breakout above 100-DMA required for upside continuation. Next major hurdle lies at channel top at 9670 ahead of 38.2% Fib at 9806.
Breach below 200-DMA eyes 50-DMA support at 8636. Break below cloud will see more weakness.
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