BTC/USD is rangebound on Tuesday after it closed above 10-DMA at 6707 levels. It is currently trading at 6680 levels at the time of writing (Bitstamp).

On the topside, the pair faces resistance at 6882 (3h 100-SMA) and a break above would target 7090 (20-DMA)/7179 (3h 200-SMA). Further strength would test 7408 (4h 200-SMA)/7582 (38.2% retracement of 9948.98 and 6120).

On the downside, the pair is currently holding well above 6589 (10-DMA) and a break below would weaken it to 6127 (trend line joining 5920.72 and 6120)/6051 (lower Bollinger). Further weakness would test 5920 (February 06 low)/5622 (113% extension of 9948.98 and 6120).

Momentum studies: On the daily chart, stochs have rolled over from oversold levels, MACD is on the verge of a bullish crossover, while RSI is below 50. The bear flag pattern supports scope for further downside.

Watch out for a break below trend line support for further bearishness in the pair.