Copy link
Increase text size
Decrease text size
Link copied

Crypto Technicals: BTC/USD struggles to extend recovery, 'Death Cross' on hourly charts weighs

Wed, 22 Jan 2020, 05:18 am UTC

BTC/USD chart - Trading View

Exchange - Coinbase

Technical Analysis: Bias Neutral

GMMA Indicator: Major Trend - Bullish; Minor Trend - Neutral

Overbought/ Oversold Index: Neutral

Volatility: Shrinking

Support: 8350 (Trendline); Resistance: 9003 (200-DMA)

BTC/USD was trading largely rangebound on the day at 8717 at around 05:00 GMT, bias remains neutral.

The pair edged higher from session lows at 8465 in the previous session to close 1.08% higher at 8722.

Price action is however, struggling to extend recovery as 'Death Cross' on the hourly charts weighs.

That said, major and minor trend as evidenced by the GMMA indicator are bullish, scope for upside resumption.

Pullbacks in the pair has held above channel top (8350), retrace below will negate near-term bullish bias.

Upside in the pair finds stiff resistance at 200-DMA and breakout required for upside continuation.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $9,780.33 (-1.35%)
  • Ethereum (ETH) $251.98 (-5.90%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $402.74 (-9.02%)
  • Bitcoin SV (BSV) $273.85 (-13.71%)
  • Bitcoin (BTC) $9,780.33 (-1.35%)
Feb 14, 2020 (Friday)
13:11
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
13:11
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
12:24
Israel’s stock exchange partners with Edinburgh-based startup for its Blockchain Securities Lending platform
11:48
Blockchain insurance startup B3i completes 30 reinsurance contracts on its platform
11:47
Crypto Technicals: TRON (TRX) confirms 'Golden Cross' on the daily charts, eyes 61.8% Fib at 0.0297
11:04
Crypto investment firm Galaxy Digital lays off 15% of its workforce
10:18
Circle now seeks to sell off crowdfunding unit SeedInvest: Report
09:47
SBI Crypto enters into blockchain cooperation partnership with Northern Data
09:25
Wells Fargo invests $5M in crypto monitoring firm Elliptic
09:01
Crypto Technicals: XRP/USD pauses at 0.34 handle, consolidation likely before next leg higher
07:37
Election Commission of India looks to blockchain to tackle lost votes
06:26
Crypto Technicals: 'Spinning Top' dents upside in ETH/USD, technical bias remains bullish
06:20
Crypto lending startup BlockFi secures $30M in Series B financing
05:20
Crypto Technicals: BTC/USD holds above 10,000 mark, trades rangebound at 5-DMA support
04:53
IOTA Foundation investigates fund theft in Trinity wallet
Feb 13, 2020 (Thursday)
12:20
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
12:19
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
12:19
U.S. Treasury Department’s FinCEN working on new crypto regulations
11:47
Defense contractor BAE Systems is hiring ‘cryptocurrency exploiters’
11:07
DTCC calls for industry consortium and comprehensive framework to address DLT security risks
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft