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Crypto Technicals: BTC/USD holds support at 4H 200 SMA (8666), break below to see more weakness

BTC/USD chart - Trading View 

Exchange - Coinbase

Support: 8666 (4H 200 SMA); Resistance: 8910 (21-EMA)

Technical Analysis: Bias slightly Bearish

BTC/USD is consolidating previous session's weakness, bias remains slightly bearish.

The pair was trading at 8742 at 06:10 GMT, 0.23% higher on the day at the time of writing.

'Death Cross' on the daily charts keeps upside capped. Scope for more weakness.

Price action is holding above cloud support at 8633. 4H 200-SMA is also strong support at 8666.

Stochs and RSI are biased lower. Volatility is rising. Break below cloud to see more weakness. 

Test of 55W EMA at 7954 then likely. 21-EMA is strong resistance at 8911. Bearish invalidation only above 200-DMA (9255).
 

By Anupama Grandhi
  • Market Data
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