BTC/USD chart - Trading View
Exchange - Coinbase
Support: 8278 (200H SMA); Resistance: 8539 (21-EMA)
Technical Analysis: Bias slightly bearish
BTC/USD is trading in extremely tight range with session high at 8315 and low at 8255.
The pair failed to break above 21-EMA and 200-DMA resistance, has slipped below 5-DMA.
Technical indicators support further weakness, RSI below 50, Stochs are biased lower.
Volatility is extremely low and the pair is extending sideways along 200H SMA. Break below will see weakness.
Next major support below 200H SMA lies 55W EMA at 7774. Violation there to see major weakness.
5-DMA is immediate resistance at 8352. Breakout at 200-DMA (8719) required for bearish invalidation.
