Crypto Technicals: BTC/USD hovers around 21-EMA (9690), potential 'Golden Cross' limits downside

BTC/USD chart - Trading View

Exchange - Coinbase

Technical Analysis: Bias Slightly Bearish

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

Overbought/ Oversold Index: Neutral

Volatility: Shrinking

Support: 9690 (21-EMA); Resistance: 9936 (5-DMA)

BTC/USD was trading 0.82% higher on the day at 9780 at around 04:30 GMT.

The pair has paused downside at 21-EMA support (currently at 9690), weakness only on break below.

Correction on account of overbought oscillators is likely to be shallow as major trend still remains bullish.

MACD is showing a bearish crossover on signal line and a 'Death Cross' formation on the hourly charts keeps downside pressure.

That said, 21-EMA is strong support and a potential 'Golden Cross' (bullish 50-DMA crossover on 200-DMA) limits downside.

5-DMA is biased lower and is now offering immediate resistance at 9936. Retrace above 200H MA (10056) could see upside resumption.

TokenPost | [email protected]