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BTC/USD chart - Trading View
Exchange - Bitfinex
Support: 5425 (5-DMA); Resistance: 5650 (trendline)
Technical Analysis: Bias Bullish
- BTC/USD edges lower from new 2019 highs at 5690
- Upside is struggling stiff trendline resistance at 5650, breakout required for further upside
- Retrace from highs has found support at 1H 55-EMA. Pair is extending sideways from past few hours
- Momentum with the bulls, confirmed 'Golden Cross' on daily charts keeps scope for upside
- Price action is above major moving averages and daily cloud and is holding above 5-DMA
- Volatility is rising as evidenced by widening Bollinger bands and we see +ve DMI dominance
- Break above trendline resistance opens upside, scope for test of 61.8% Fib at 6041
- Break below 5-DMA will see dip till 21-EMA. Bullish invalidation below 200-DMA
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
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Crypto Technicals: BTC/USD holds above 5-DMA, potential 'Golden Cross' keeps scope for upside
Wednesday, April 24, 2019 10:06 AM UTC
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