BTCUSD is trading in a narrow range with no proper direction. It hits an intraday high of $92392, and currently, it is about $92083.
Oscillators and moving averages to forecast the trend of BTCUSD
CMP- $92214
EMA (4-hour chart)
55-EMA- $90794
200-EMA- $90360
365-EMA- $92577. The pair trades above the short-term (55 EMA) and above 200, and below the 365 EMA long-term moving average.
Major Support - $89500. Any breach below $89500 will drag the pair down to $88356/$86650/$84440/$83000/$80000.
Major Resistance - $95000. Any break above $95000 confirms minor bullishness, a jump to $95500/$97400/$98500/$10000.
Indicators (4-hour chart)
CCI(50)- Neutral
ADX- Neutral
5. Investment Strategy for BTCUSD
It is good to buy on dips around $85000 with a stop loss around $80000 for target profits of $100000/$107000.
