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BTC/USD chart - Trading View
Exchange - Coinbase
Support: 5828 (5-DMA); Resistance: 6500 (trendline)
Technical Analysis: Bias Bullish
- BTC/USD has spiked past the 6000 mark on Coinbase, bias bullish
- The pair has hit new 6-month highs at 6098 and is on verge of breakout of Rising Wedge pattern
- Technical indicators support further gains, scope for test of 6500 on continued upside momentum
- 'Golden Cross' (bullish 50-DMA crossover on 200-DMA) and expanding volatility support gains
- That said, oscillators are at overbought levels and could see some pullback, so caution advised
- Break below 5-DMA (5826) could see dip till 21-EMA at 5491. Bullish invalidation only below 200-DMA
[Correction: Oscillators are "overbought" levels, not "oversold" as mentioned previously]
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
