# Crypto Technicals: BTC/USD bounces off session lows with 'Hammer' formation, bias neutral

By Anupama Grandhi

Canonical URL: https://www.tokenpost.com/news/investing/1960
Published: 2019-05-23T11:28:38.000Z
Updated: 2019-05-23T11:28:38.000Z
Section: Investing

> Support: 7110 (21-EMA); Resistance: 7882 (5-DMA)

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

Exchange - Coinbase

Support: 7110 (21-EMA); Resistance: 7882 (5-DMA)

Technical Analysis: Bias Neutral

BTC/USD extends weakness for the 4th straight session.

Price action has slipped below 5-DMA and 1H 200-SMA.

Bearish divergence on RSI and Stochs raises scope for weakness.

Major trend in the pair is still bullish. 5-DMA is still biased higher.

Price has held support at 4H cloud. Break below finds next major support at 7180 (4H 110-EMA)

Break below 21-EMA (7108) required for further downside. Bullish invalidation only below 200-DMA

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)