BTC/USD is trading higher on Tuesday as it broke above 7-DMA. It is currently trading at 7372 levels at the time of writing (Bitstamp).

On the topside, the pair now faces resistance at 7444 (10-DMA) and a break above would see it testing 7668 (23.6% retracement of 11688 and 6427.16)/7976 (20-DMA). Further strength would target 8243 (3h 200-SMA)/8436/8856 (4h 200-SMA).

On the flip side, support is seen at 6947 (1h 50-SMA) and any violation would drag the pair to 6700 (1w 50-SMA)/6446 (trend line joining 5920.72 and 6427.16). Further weakness would target 5920 (February 06 low)/5555 (November 12 2017 low).

Momentum studies: On the daily chart, MACD line is below the signal line and RSI is at 39, suggesting bearish bias. However, stochs is on the verge of a roll over from the oversold zone.

Intraday bias appears bullish. Watch out for a break above 10-DMA for minor bullishness.

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