BTC/USD continues to consolidate in a narrow range and is trying to hold above 20-DMA. It is currently trading at 7703 levels at the time of writing (Bitstamp).

On the top side, a decisive break above 7657 (20-DMA) would target 7839 (3h 200-SMA)/8000/8188 (Cloud bottom). Further strength would target 8360 (Upper Bollinger)/ 8441 (100-DMA).

On the downside, support is seen at 7566 (10-DMA) and a break below would drag it to 7400 (1w 55-EMA)/ 7180 (78.6% retracement of 6427.16 and 9948.98). Further weakness would target 7000.

Momentum studies: On the daily chart with RSI is at 46 with higher bias, MACD line is above the signal line and stochs are near overbought levels.

A consistent break above 20-DMA, coupled with RSI above 50, would see minor bullishness in the pair. Intraday bias is bullish.

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