BTCUSD gave back much of its earlier gains following hawkish remarks from the Fed, which dampened appetite for riskier assets. At the moment, it’s trading near $69,656, having hit an intraday low around $69,500.
|
Technicals |
CMP -$69500 |
Trend |
|
|
4- Hour chart |
Value |
|
|
|
55 EMA |
$71164 |
CMP < 55 EMA |
Bearish |
|
200- EMA |
$71073 |
CMP < 200- EMA |
Bearish |
|
365- EMA |
$74251 |
CMP < 365 EMA |
Bearish |
Major support- $67000/$64000/$60000/$52500/$50000. Minor bullishness only above $72500. Any break above targets $76200/$80000/$85500.
|
Momentum indicator (4-hour chart) |
Inference |
Value |
|
CCI(50) |
Bullish |
110.98 |
|
ADX |
Neutral |
|
It is good to buy on dips around $67000 with SL around $64000 for a TP of $80000.
