BTCUSD Chart -Trading View
Exchange - Coinbase
Support: 11086 (5-DMA); Resistance: 12907 (Upper BB)
Technical Analysis: Bias Neutral
BTC/USD extends retrace above 11,000 mark, breaks above 5-DMA.
The pair has paused downside at 20-DMA support, scope for upside resumption.
'Hammer' formation at lows raises scope for upside in the pair.
RSI is showing a turn higher, but 5-DMA is still biased lower.
Major trend in the pair has been bullish and pullback seems to have stalled at 20-DMA.
We would advise waiting for confirmation on technical indicators to confirm resumption of upside.
Breach below 20-DMA will see further weakness.
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
