Copy link
Increase text size
Decrease text size
Link copied

FxWirePro: BTC/USD extends consolidation, break below 1h 200-SMA to see minor downside

Mon, 30 Jul 2018, 07:38 am UTC

BTC/USD is struggling to hold 7-DMA support on Monday and is currently trading at 8130 levels at the time of writing (Bitstamp).

The pair surged to near 8300 levels over the weekend after Hester Peirce, the SEC commissioner, expressed her dissent on the recent decision by the U.S. Securities and Exchange Commission to reject the bitcoin ETF application from the Winklevoss twins citing lack of measures to prevent price manipulation.

The bears seem to have taken charge and the pair is currently eyeing support at 8015 (1h 200-SMA) and a break below would target 7980 (10-DMA). Further weakness would drag it to 7809 (3h 100-SMA)/7677 (4h 90-EMA)/7500.

On the upside, the pair faces stiff resistance at 8359 (convergence of 61.8% retracement of 9948.98 and 5774.72 and trend line joining 11688 and 8496.96) and a break above would see it testing 8471 (200-DMA)/8500. Further strength would target 8590 (May 20 high).

Momentum Studies: Bias appears largely neutral on the daily chart as the pair extends consolidation below trend line resistance at 8359.

Some weakness could be on the cards if the pair breaks below 1h 200-SMA.

<Copyright © TokenPost. All Rights Reserved. >

  • PUBLISH (NEWS) $0.000580 (-8.25%)
  • Bitcoin (BTC) $26,155.30 (-0.48%)
  • Ethereum (ETH) $1,588.12 (+0.05%)
  • Tether USDt (USDT) $0.999627 (-0.03%)
  • BNB (BNB) $211.42 (+0.78%)
  • XRP (XRP) $0.500750 (-0.59%)
  • PUBLISH (NEWS) $0.000580 (-8.25%)
Jul 15, 2021 (Thursday)
13:30
BTC Surges by 1.16% Within 5 Mins, Marking 31,824.01 USDT
12:06
BTC Surges by 1.12% Within 5 Mins, Marking 32,104.8 USDT
10:25
BTC Drops by 1.03% Within 5 Mins, Marking 32,171.88 USDT
02:13
TriumphX Scouts 'MINAMCOMPANY' CEO Woo-Seong Lee As Creative Director
02:00
ETH Tops List Of Crypto Net Inflow With $298.96 Mln In Past 10 Hours
Jul 14, 2021 (Wednesday)
13:14
BTC Surges by 1.03% Within 5 Mins, Marking 32,738.08 USDT
09:03
BTC Surges by 1.01% Within 5 Mins, Marking 31,899 USDT
02:30
Crypto Market Sentiment On Jul 14: Market In "Extreme Fear"
02:00
ETH Tops List Of Crypto Net Outflow With $224.97 Mln In Past 10 Hours
Jul 13, 2021 (Tuesday)
02:30
Crypto Market Sentiment On Jul 13: Market In "Extreme Fear"
02:00
ETH Tops List Of Crypto Net Outflow With $178.61 Mln In Past 10 Hours
Jul 12, 2021 (Monday)
02:30
Crypto Market Sentiment On Jul 12: Market In "Extreme Fear"
02:00
BTC Tops List Of Crypto Net Inflow With $164.82 Mln In Past 10 Hours
Jul 11, 2021 (Sunday)
21:31
BTC Surges by 1.02% Within 5 Mins, Marking 34,475.6 USDT
10:00
ETH Tops List Of Crypto Net Inflow With $122.76 Mln In Past 18 Hours
06:17
SOBA Listed On LATOKEN
02:30
Crypto Market Sentiment On Jul 11: Market In "Extreme Fear"
02:00
BTC Tops List Of Crypto Net Outflow With $87.56 Mln In Past 10 Hours
Jul 9, 2021 (Friday)
21:40
BTC Surges by 1.08% Within 5 Mins, Marking 33,911.8 USDT
02:30
Crypto Market Sentiment On Jul 09: Market In "Extreme Fear"
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.