BTC/USD is extremely rangebound on Monday with its upside capped by 20-DMA. It is currently trading at 6351 levels at the time of writing (Bitstamp).

On the topside, a consistent break above 6398 (20-DMA) would see the pair testing 6462 (3h 100-SMA)/6561 (trend line joining 7790 and 6820). Further strength would target 6719 (convergence of 50-DMA and cloud bottom)/6836 (Upper Bollinger).

On the downside, a break below 6280 (5-DMA) would drag the pair to 6162 (trend line joining 5774.72 and 6072)/6000. Further weakness would test 5920 (February 06 low)/ 5780 (June 24 low).

Momentum studies: On the daily chart, RSI is below 50 and MACD line is below the signal line, while stochs are showing a turn from near oversold levels. Overall bias remains bearish.

The pair is extremely rangebound with a doji formation suggesting current market indecisiveness.

Watch out for a break below trend line support at 6162 for further downside in the pair.