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Crypto Technicals: BTC/USD holds 50-DMA support, momentum studies bearish
BTC/USD chart - Trading View
Exchange - Coinbase
Support: 8540 (50-DMA); Resistance: 8817 (5-DMA)
Technical Analysis: Bias Bearish
BTC/USD trades 1.01% lower on the day at 8721 at 04:15 GMT, bias remains bearish.
The pair is holding support at 50-DMA, break below will see further weakness.
RSI is below 50 and bias is lower, momentum studies are strongly bearish.
The pair is consolidating below 21-EMA, bearish MACD crossover raises scope for weakness.
Bollinger bands are narrow and shrinking, volatility is likely to be low. Breach at 50-DMA support to see weakness.
5-DMA is immediate resistance at 8818. Bearish invalidation only above 200-DMA.