# Crypto Technicals: BTC/USD stalls downside at 20-DMA, 'Hammer' formation raises scope for upside

By Anupama Grandhi

Canonical URL: https://www.tokenpost.com/news/investing/2479
Published: 2019-07-03T10:44:06.000Z
Updated: 2019-07-03T10:44:06.000Z
Section: Investing

> Support: 11086 (5-DMA); Resistance: 12907 (Upper BB)

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

Exchange - Coinbase

Support: 11086 (5-DMA); Resistance: 12907 (Upper BB)

Technical Analysis: Bias Neutral

BTC/USD extends retrace above 11,000 mark, breaks above 5-DMA.

The pair has paused downside at 20-DMA support, scope for upside resumption.

'Hammer' formation at lows raises scope for upside in the pair.

RSI is showing a turn higher, but 5-DMA is still biased lower.

Major trend in the pair has been bullish and pullback seems to have stalled at 20-DMA.

We would advise waiting for confirmation on technical indicators to confirm resumption of upside.

Breach below 20-DMA will see further weakness.

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



## Links in this article

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