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Crypto Technicals: BTC/USD correction likely to be shallow, watch out for break above 200-DMA for bullish continuation
Crypto Technicals: BTC/USD finds selling pressure at highs, bias remains bearish as long as 21-EMA resistance holds
BTC/USD chart - Trading View
Exchange - Coinbase
Support: 6676 (Lower BB); Resistance: 7403 (200H MA)
Technical Analysis: Bias Bearish
BTC/USD edges lower from session highs at 7381, technical bias remains bearish.
Long upper wicks on the daily candle shows the pair finds selling pressure at highs.
Upside was rejected at 21-EMA on Wednesday's candle. The pair was trading marginally higher at 7260 at 05:20 GMT.
Technical indicators on the intraday charts are slightly bullish. However, 200-DMA is stiff resistance at 7404.
Major trend in the pair is bearish and near-term bias also remains bearish as long as 21-EMA resistance (7650) holds.
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