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Crypto Technicals: BTC/GBP pivotal at 1H 200-SMA (6123), weakness likely on break below
BTC/GBP chart - Trading View
Exchange - Coinbase
Support: 6123 (1H 200-SMA); Resistance: 7040 (Upper BB)
Technical Analysis: Bias Neutral
BTC/GBP trades in the red for the 3rd straight session, hovers around 5-DMA.
The pair trades with a bullish bias, no major signs of reversal noticed.
Bearish RSI divergence and Oscillators at overbought zone raise scope for pullback.
Strong support seen at 1H 200-SMA, break below will see some weakness.
Break below 6123 (1H 200-SMA) will see weakness till 61.8% Fib at 5716.
Bounce off 5-DMA support eyes Upper Bollinger band at 7040.
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