Crypto Technicals: BTC/USD briefly tests $8000 mark, further upside on charts

BTC/USD chart - Trading View

Exchange - Coinbase

Support: 7564 (55-EMA); Resistance: 8003 (110-EMA)

Technical Analysis: Bias Bullish

BTC/USD briefly tested the $8000 mark before paring some gains to slip back to 7891 at around 04:15 GMT.

The pair broke the 55-EMA barrier to close 5.56% higher on Monday's trade. Price currently capped below 110-EMA resistance at 8003.

Near-term trend has shifted to bullish with short-term MAs crossing over the longer-term MAs on the GMMA indicator.

The renewed interest in the asset is mainly connected to the upcoming May 2020 halving event.

The prevailing trend is strongly bullish as shown by the upward moving RSI which holds well above 60 mark.

Stochs are bias higher and rising volatility raises scope for continued bullish momentum.

Breakout at 110-EMA (8003) eyes 21W EMA at 8140 ahead of cloud top at 8533.

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