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BTCUSD Bears in Control – Narrow Range $66.5K–$70.9K, Sell the Bounce

 

BTCUSD has been consolidating in a narrow range between $70937 and $66557 for the past three days. It hits an low of $66557 yesterday and is currently trading around $67621.

 

Technicals

CMP -$67621

Trend

4- Hour chart

Value

 

 

55 EMA

$69029

CMP < 55 EMA

Bearish

200- EMA

$76641

CMP < 200- EMA

Bearish

365- EMA

$81935

CMP < 365 EMA

Bearish

 

 

Major support- $64000/$60000/$52500/$50000. Minor bullishness only above $72500.

 

Momentum indicator (4-hour chart)

Inference

Value

CCI(50)

Bearish

-44.74

ADX

Neutral

 

 

 

It is good to sell on rallies around $70000 with SL around $72280 for a TP of $65000/$64000.

 

 

 

 

 

 

 

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