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Bitcoin Stuck in Bearish Rut: Sell Rallies Near $70K – Eyes $64K Support Next

 

 

 

 

 

BTCUSD trades flat with neutral bias. It hits an intraday high of $67281  and is currently trading around $66868.

 

 

Technicals

CMP -$66846

Trend

4- Hour chart

Value

 

 

55 EMA

$69029

CMP < 55 EMA

Bearish

200- EMA

$68449

CMP < 200- EMA

Bearish

365- EMA

$67362

CMP < 365 EMA

Bearish

 

 

Major support- $64000/$60000/$52500/$50000. Minor bullishness only above $72500.

 

Momentum indicator (4-hour chart)

Inference

Value

CCI(50)

Bearish

-60

ADX

Neutral

 

 

 

It is good to sell on rallies around $70000 with SL around $72280 for a TP of $65000/$64000.

 

 

 

 

 

 

 

 

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