Crypto Technicals: BTC/USD trades above $10,000 mark, next bull target 61.8% Fib at $11,026

BTC/USD chart - Trading View

Exchange - Coinbase

Technical Analysis: Bias bullish

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

Overbought/ Oversold Index: Highly overbought

Volatility: High

Support: 9941 (5-DMA); Resistance: 10149 (50% Fib)

BTC/USD has taken out the crucial 10,000 mark and hit new 3-month high (highest since Oct 26 2019).

The pair is extending slight weakness on the day, was trading 1.02% lower at 10,064 at around 04:15 GMT.

Momentum strongly bullish, price action has broken above weekly cloud, scope for upside continuation.

Slight correction likely on account of overbought oscillators. No major signs of reversal seen.

Stochs and RSI converging with price action, resumption of upside will see test of 61.8% Fib at 11,026.

5-DMA is immediate support at 9941. Break below could see test of major support at 200H MA at 9595.

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