Crypto Technicals: BTC/USD hovers around 21-EMA (9690), potential 'Golden Cross' limits downside
Tue, 18 Feb 2020, 04:47 am UTC
BTC/USD chart - Trading View
Exchange - Coinbase
Technical Analysis: Bias Slightly Bearish
GMMA Indicator: Major Trend - Bullish; Minor Trend - Bearish
Overbought/ Oversold Index: Neutral
Support: 9690 (21-EMA); Resistance: 9936 (5-DMA)
BTC/USD was trading 0.82% higher on the day at 9780 at around 04:30 GMT.
The pair has paused downside at 21-EMA support (currently at 9690), weakness only on break below.
Correction on account of overbought oscillators is likely to be shallow as major trend still remains bullish.
MACD is showing a bearish crossover on signal line and a 'Death Cross' formation on the hourly charts keeps downside pressure.
That said, 21-EMA is strong support and a potential 'Golden Cross' (bullish 50-DMA crossover on 200-DMA) limits downside.
5-DMA is biased lower and is now offering immediate resistance at 9936. Retrace above 200H MA (10056) could see upside resumption.
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