Copy link
Increase text size
Decrease text size
Link copied

FxWirePro: BTC/USD rangebound below 200-DMA, break above to see further upside

Tue, 31 Jul 2018, 07:31 am UTC

BTC/USD fell to 7853 levels on Monday before closing at 8160 levels (Bitstamp).

The pair is currently trading at 8125 levels as it tries to hold key support at 10-DMA.

On the topside, resistance is seen at 8336 (trend line joining 11688 and 8496.96) and a break above would target 8443 (200-DMA)/8500. Further strength would target 8590 (May 20 high)/8850 (113% extension of 5774.72 and 8496.96)/9000.

On the flipside, a violation of key support at 8053 (10-DMA) would drag the pair to 7866(3h 100-SMA)/7734 (4h 90-EMA). Further weakness would see it testing 7592 (100-DMA)/7459 (20-DMA).

Momentum Studies: Overall bias remains neutral as the pair extends consolidation. However, the formation of bullish flag pattern suggests scope for further upside on a decisive break above 200-DMA.

Recommendation: Good to go long on break above 200-DMA. SL: 7800. TP: 8500/8600.

<Copyright © TokenPost. All Rights Reserved. >

  • Bitcoin (btc) $23,382.00 (+0.10%)
  • Ethereum (eth) $1,667.36 (+0.33%)
  • BNB (bnb) $333.73 (+1.22%)
  • USD Coin (usdc) $1.00 (-0.07%)
  • XRP (xrp) $0.411096 (-0.03%)
  • Bitcoin (btc) $23,382.00 (+0.10%)
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.