Bitcoin defends $5,200 support as technical indicators remain positive. BTC/USD is expected to stay in the indecision state in the coming sessions on Monday. BTC/USD is grinding closer to the rising wedge pattern breakout after defending the support at $5,200. The weekend trading has been more of consolidation with minor upside correction. The upside is limited at $5,300. However, a broader look at the chart, we see BTC/USD in an upward trend above both the 50 simple moving average (SMA) and the 100 SMA 4-hour. The impending rising wedge pattern breakout could see Bitcoin break down to test the support at $5,000 (support congestion). Last week, Bitcoin tested the zone at $4,900 before resuming the gains. The consolidation above $5,200 could result in a further break down according to the 20-period Bollinger Band. Meanwhile, the RSI is correcting slightly upwards to show that the bulls still have control. The indicator at 54.16 has been averaging around 50.00 in the last week. The MACD, in the same range, is ranging right at the mean level (0.0). Traders can expect the price to stay in the indecision state in the coming sessions until a break above or below the wedge pattern occurs. BTC/USD 4-hour 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 WTI rallies to fresh 2019 tops at $ 65.80 as US set to end Iran oil waivers FX Street 4 years Bitcoin defends $5,200 support as technical indicators remain positive. BTC/USD is expected to stay in the indecision state in the coming sessions on Monday. BTC/USD is grinding closer to the rising wedge pattern breakout after defending the support at $5,200. The weekend trading has been more of consolidation with minor upside correction. The upside is limited at $5,300. However, a broader look at the chart, we see BTC/USD in an upward trend above both the 50 simple moving average (SMA) and the 100 SMA 4-hour. The impending rising wedge pattern breakout could see Bitcoin break down to test the support… 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.
