Crypto Technicals: Bitcoin fails to take out $11K mark, tumbles below 55-EMA support (10428)
Wed, 21 Aug 2019, 05:35 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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