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Crypto Technicals: BTC/USD recovery capped at 200-DMA, momentum with the bears

Monday, September 30, 2019 3:32 AM UTC

BTC/USD chart - Trading View

Exchange - Coinbase

Support: 7231 (61.8% Fib); Resistance: 8417 (200-DMA)

Technical Analysis: Bias Bearish

BTC/USD recovery was capped below 200-DMA, the pair has resumed weakness.

The pair was trading 0.83% lower on the day at 7985 at 03:20 GMT, bias bearish.

Stochs and RSI show momentum is strongly bearish. MACD and ADX support downside.

The pair is struggling to hold 8000 level and volatility is rising on the intraday charts.

Scope for test of 61.8% Fib at 7231. Immediate resistance lies at 5-DMA at 8099. Bearish invalidation only above 200-DMA.

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Crypto Technicals: BTC/USD recovery capped at 200-DMA, momentum with the bears

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