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Crypto Technicals: BTC/USD retraces from 3-week lows, resumes range trade, bias neutral

Fri, 20 Sep 2019, 07:49 am UTC

BTC/USD chart - Trading View

Exchange - Coinbase

Support: 9600 (trendline); Resistance: 10508 (50-DMA)

Technical Analysis: Bias neutral to slightly bearish

BTC/USD pared losses on Thursday's trade, retraced from 3-week lows at 9585 to close in the green.

The pair is trading in a narrow range, with session high at 10309 and low at 10153 (Coinbase).

Volatility is extremely low and shrinking and indicators do not provide clear directional bias.

MACD and RSI are flat. ADX is rising and we see a -ve DMI dominance which tilts the bias to slightly bearish.

Long and short term moving averages have been trading flat, sideways grind along 55-EMA likely to continue.

Immediate resistance lies at 50-DMA at 10508, while 9600 (trendline) is strong support level.

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