BTC/USD is trading in an extremely narrow range after it got rejected at 55-EMA. It is currently trading at 8025 at the time of writing (Bitstamp).

On the topside, a consistent break above 8409 (55-EMA) will see the pair testing 8850 (Cloud bottom)/8968 (90-EMA). Further strength would target 9164 (23.6% retracement of 19666 and 5920.72)/9671 (200-DMA)/10000.

On the downside, support is seen at 7753 (2h 90-EMA) and a break below would see it testing 7584 (10-DMA)/7254 (20-DMA). Further weakness would drag the pair to 7000/6576 (trend line joining 5920.72 and 6427.16).

Momentum studies: On the daily chart, RSI is holding above 50, MACD line is above the signal line, and 10-DMA is biased higher. However, the pair failed to break above 55-EMA and stochs are in the overbought zone.

The pair is rangebound and intraday momentum studies appear inconclusive at the time of writing.

Traders are preferred to wait for a confirmed signal on the daily chart.

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