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Crypto Technicals: BTC/USD trades below 61.8% Fib, eyes channel base at 6085
BTC/USD chart - Trading View
Exchange - Coinbase
Support: 6666 (Lower BB); Resistance: 7345 (5-DMA)
Technical Analysis: Bias Bearish
BTC/USD ignores previous session's Doji, extends weakness below 61.8% Fib.
The pair was trading at 7145 at 04:00 GMT, down 2.16% at the time of writing.
Technical bias for the pair has turned bearish. Scope for further downside.
Stochs and RSI are biased lower, 5-DMA has turned and MACD and ADX support weakness.
Little support seen till lower Bollinger band at 6666. Further weakness with rise in volatility will see drag till channel base at 6085.
5-DMA is immediate resistance at 7345, retrace above could see minor upside till 21-EMA (7682).