Bitcoin sharply lost momentum on Tuesday dropping (SMA) and the 200 Exponential Moving Average (EMA). The 15-minutes chart shows a weak momentum grinding closer to the 100 SMA hurdle. Bitcoin has a bullish bias in the short-term. The price recently approached $6,000 but formed a high around $5,970 before retracting to test levels marginally below $5,700. Or a moment the price stayed above $5,800 and it seemed that we will see the largest asset by market capitalization consolidate the gains above this level. Unfortunately, the price sharply lost momentum dropping below the 100 Simple Moving Average (SMA) and the 200 Exponential Moving Average (EMA). On finding support at $5,700, Bitcoin recovered above the 200EMA. The gains increased to levels past $5,800. The price trading at $5,834.32 upside is limited by the 100 SMA 15-minutes at $5,850. A forming bullish flag pattern could have BTC/USD test $5,800 first before a correction towards $5,900 takes place. This is true only is the price fails to clear the resistance at $5,850 and exhausted bulls lose their grip. The 15-minutes chart shows a weak momentum grinding closer to the 100 SMA hurdle. Therefore, traders can expect a breakout to the upside in the coming session which means that Bitcoin could close the day above the supply zone $5,900 and the next resistant target at $5,950. BTC/USD 1-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next South Africa: All eyes on the elections – Rabobank FX Street 3 years Bitcoin sharply lost momentum on Tuesday dropping (SMA) and the 200 Exponential Moving Average (EMA). The 15-minutes chart shows a weak momentum grinding closer to the 100 SMA hurdle. Bitcoin has a bullish bias in the short-term. The price recently approached $6,000 but formed a high around $5,970 before retracting to test levels marginally below $5,700. Or a moment the price stayed above $5,800 and it seemed that we will see the largest asset by market capitalization consolidate the gains above this level. Unfortunately, the price sharply lost momentum dropping below the 100 Simple Moving Average (SMA) and the 200… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
