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Crypto Technicals: Bitcoin fails to take out $11K mark, tumbles below 55-EMA support (10428)

Wednesday, August 21, 2019 5:31 AM UTC

BTC/USD chart - Trading View

Exchange - Coinbase

Support: 9765 (38.2% Fib); Resistance: 10979 (20-DMA)

Technical Analysis: Bias Bearish

BTC/USD has failed to hold break above daily cloud, intraday bias has turned bearish.

Price action has failed to takeout $11,000 mark, tumbles lower.

The pair has broken below 55-EMA support and 200 hour SMA, negating near-term upside.

Volatility is rising on the intraday charts. Bears eye 38.2% at 9765. Further weakness will see dip till 110-EMA at 9441.

200H SMA is immediate resistance at 10478. Retrace above 20-DMA (10981) will negate any bearish bias for the pair.

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Crypto Technicals: Bitcoin fails to take out $11K mark, tumbles below 55-EMA support (10428)

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