BTC/USD technical analysis: Firm above 100-day EMA, 50-day EMA/38.2% Fibo. question buyers
|- BTC/USD rises to strong resistance comprising 50-day EMA, 38.2% Fibonacci retracement amid bearish MACD.
- 100-day EMA becomes the key support.
Having bounced off 100-day exponential moving average (EMA), the BTC/USD pair struggles to cross near-term important resistance-confluence while taking rounds to 10,385 on early Monday.
The quote faces a tough resistance around 10,480/520 that includes 50-day EMA and 38.2% Fibonacci retracement of April – June run-up.
While 12-bar moving average convergence and divergence (MACD) indicates a pullback, 10,000 round-figure can offer an intermediate halt ahead of dragging prices back to 100-day EMA level of 9,575.
Given the pair’s fall below 9,575, 11-week old horizontal support around 9,115/9,080 can grab sellers’ attention.
If at all buyers refrain from respecting bearish MACD, a month-long resistance-area between 11,080/120 can lure them.
BTC/USD daily chart
Trend: SIdeways
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.