Crypto Technicals: BTC/USD spikes to new 2019 highs, 'Golden Cross' and break above 5645 (trendline) opens further upside

BTC/USD chart - Trading View

Exchange - Bitfinex

Support: 5396 (5-DMA); Resistance: 5645 (trendline)

Technical Analysis: Bias Bullish

- BTC/USD spikes to hit new 2019 highs at 5647
- The pair has paused at stiff trendline resistance at 5645
- Momentum with the bulls, potential 'Golden Cross' keeps scope for upside
- Price action is above major moving averages and daily cloud
- Volatility is rising as evidenced by widening Bollinger bands
- Break above trendline resistance at 5645 and confirmation on the 'Golden Cross' opens upside
- Scope for test of 61.8% Fib at 6041. Bullish invalidation below 200-DMA.

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