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BTCUSD Bullish Breakout: Clears 800-EMA After Consolidation, Buy Dips Toward $74,900

BTCUSD trades above the 800-H EMA after a long consolidation.  It hit an intraday high of $64596 and is currently trading around $64391.

 

Technicals

CMP -$64391

Trend

4- Hour chart

Value

 

 

55 EMA

$62250

CMP>55 EMA

Bullish

200- EMA

$62542

CMP >200- EMA

Bullish

365- EMA

$62339

CMP>365 EMA

Bullish

800-EMA

$63708

CMP<Vaue

Bullish

 Major support- $57700/$52796. The pair has held above the 800.-EMA for the past few candles. This confirms a bullish trend and a jump to $67700/$70000/$72200/474950. 

 

Momentum indicator (1-hour chart)

Inference

Value

CCI(50)

Bullish

159

ADX

Bullish

Strength increased from 26.69 to 36

It is good to buy on dips around $63000 with an SL around $59700 for a TP of $74900.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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