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Crypto Technicals: BTC/USD hovers around $8000 mark, poised for upside resumption
BTC/USD chart - Trading View
Exchange - Coinbase
Support: 7764 (5-DMA); Resistance: 9532 (38.2% Fib)
Technical Analysis: Bias Bullish
BTC/USD trades in a narrow range on the day, bias remains bullish.
Price action is consolidating around $8000 mark, no major signs of reversal yet.
Stochastics RSI has approached oversold levels and RSI is holding above 60 level.
Turn in RSI along supported with rise in 5-DMA will see resumption of upside.
Break below 5-DMA finds next immediate support at 21-EMA at 7000.
Next bull target above 8000 lies at 9532 (38.2% Fib) ahead of 10,000 mark.
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