# Crypto Technicals: BTC/USD hovers around $8000 mark, poised for upside resumption

By Anupama Grandhi

Canonical URL: https://www.tokenpost.com/news/investing/1931
Published: 2019-05-21T10:55:41.000Z
Updated: 2019-05-21T10:56:05.000Z
Section: Investing

> Support: 7764 (5-DMA); Resistance: 9532 (38.2% Fib)

[BTC/USD](<https://www.tradingview.com/symbols/BTCUSD/>) chart - Trading View

Exchange - Coinbase

Support: 7764 (5-DMA); Resistance: 9532 (38.2% Fib)

Technical Analysis: Bias Bullish

BTC/USD trades in a narrow range on the day, bias remains bullish.

Price action is consolidating around $8000 mark, no major signs of reversal yet.

Stochastics RSI has approached oversold levels and RSI is holding above 60 level.

Turn in RSI supported with rise in 5-DMA will see resumption of upside.

Break below 5-DMA finds next immediate support at 21-EMA at 7000.

Next bull target above 8000 lies at 9532 (38.2% Fib) ahead of 10,000 mark.

For details on FxWirePro's Currency Strength Index, visit [http://www.fxwirepro.com/currencyindex](<http://www.fxwirepro.com/currencyindex>).

## Links in this article

- [BTC/USD](https://www.tradingview.com/symbols/BTCUSD/)
- [http://www.fxwirepro.com/currencyindex](http://www.fxwirepro.com/currencyindex)