BTC/USD chart - Trading View
Exchange - Coinbase
Support: 8508 (20-DMA); Resistance: 8633 (200-DMA)
Technical Analysis: Bias Bullish
BTC/USD spiked higher on Wednesday's trade to close at 2-week highs.
Major trend still remains bearish, but intraday bias is turning bullish.
Stochs are biased higher and MACD shows bullish crossover on signal line.
Price action has tested 200-DMA which is offering stiff resistance at 8633.
Decisive break above 200-DMA will propel the pair higher. Next bull target lies at 23.6% Fib at 9156.
Rejection at 200-DMA and break below 5-DMA will see resumption of weakness.
