BTCUSD pared most of its gains due to weak institutional demand. It hit an intraday low of $59541 and is currently trading around $59756.
|
Technicals |
CMP -$59564 |
Trend |
|
|
1- Hour chart |
Value |
|
|
|
55 EMA |
$63922 |
CMP<55 EMA |
Bearish |
|
200- EMA |
$66918 |
CMP <200- EMA |
Bearish |
|
365- EMA |
$69514 |
CMP<365 EMA |
Bearish |
Major support- $59000/$52796. Minor bullishness only above $68000. Any break above targets $70000/$72200/$74950/$78000/$80000.
|
Momentum indicator (4-hour chart) |
Inference |
Value |
|
CCI(50) |
Bearish |
-203.20 |
|
ADX |
Bearish |
Strength increased from 14 to 20 |
It is good to sell on rallies around $63000 with an SL around $67000, for a TP of $50000.
