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BTCUSD Recovers Amid Easing Tensions, But Resistance Looms

BTCUSD showed a minor recovery as geo political tension eases. It hit an high of $61339 and is currently trading around $61208.

 

Technicals

CMP -$61206

Trend

4- Hour chart

Value

 

 

55 EMA

$60497

CMP>55 EMA

Bullish

200- EMA

$64306

CMP <200- EMA

Bearish

365- EMA

$67328

CMP<365 EMA

Bearish

 Major support- $57700/$52796. Minor bullishness only above $63500. Any break above targets $67000/$70000/$72200/$74950/$78000/$80000.

 

Momentum indicator (4-hour chart)

Inference

Value

CCI(50)

Bullish

32.40

ADX

Neutral

 

It is good to sell on rallies around $63000 with an SL around $67000, for a TP of $50000.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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