BTC/USD continues trading in a close range on Monday as it is struggling for a close above 90-EMA. It is currently trading at 11303 levels at the time of writing (Bitstamp).

On the topside, a decisive break above 11671 (90-EMA) would target 11890 (2h 200-SMA)/12140 (20-DMA). Further strength would see it testing 12756 (Cloud bottom)/13000/13270 (4h 200-SMA).

On the downside, the pair is currently hovering around 11244 (2h 100-SMA) and any violation would drag the pair to 10945 (61.8% retracement of 5555.55 and 9666)/10646 (trend line joining 9222 and 9927.54). Further weakness would see it testing 10000/9838 (trend line joining 2972.01 and 9222)/9349 (61.8% retracement of 2972.01 and 19666).

Momentum studies: On the daily chart, RSI is weak at 41, while MACD is on the verge of a bullish crossover and stochs are slightly biased higher. The pair is consolidating in a narrow range from the past couple of sessions, with the price action moving away from the lower Bollinger.

Traders are preferred to wait for a confirmed signal on the daily charts.

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