Crypto Technicals: BTC/USD slips below 110-EMA, 'Symmetric Triangle' breach to plummet prices

BTC/USD chart - Trading View

Exchange - Coinbase

Support: 9338 (21W EMA); Resistance: 5-DMA (9912)

Technical Analysis: Bias Bearish

BTC/USD slips below 110-EMA, tests triangle base support at 9630, bias is bearish.

RSI is well below 50 and Stochs are sharply lower. Volatility is rising on the daily charts.

MACD shows bearish crossover and ADX is rising in support of the current downtrend.

The pair is currently holding support at 9600 mark. Break below will see resumption of weakness.

Major trend is flat as shown in GMMA indicators. Parabolic SAR shows further downside.

'Symmetric Triangle' breach will plummet prices. Next major support lies at 9338 (21W EMA) ahead of 8498 (50% Fib).

On the flipside, 55-EMA is strong resistance at 10229, breakout negates near-term bearish bias.

TokenPost | [email protected]