BTC/USD is trading in a close range on Tuesday as it tries to hold above 20-DMA. It is currently trading at 9327 levels at the time of writing (Bitstamp).

On the upside, the pair faces resistance at 9566 (5-DMA) and a break above would test 9870 (trend line joining 11688 and 9948)/10109 (200-DMA). Further strength would target 10562 (78.6% retracement of 11688 and 6427.16)/11000.

On the downside, a break below 9216 (20-DMA) would drag the pair to 9103 (cloud top)/8893 (100-DMA)/8418 (4h 200-SMA). Further weakness would see it testing 8274 (50-DMA)/8000.

Momentum studies: On the daily chart, stochs are biased sharply lower and MACD is on the verge of a bearish crossover. However, RSI continues to hold above 50.

A decisive break below 20-DMA, coupled with RSI slipping below 50, would confirm further bearishness in the pair.

Intraday bias appears bearish. The pair is struggling for a decisive break above 1h 200-DMA.

Recommendation: Good to go short on break below 20-DMA. SL: 9500. TP: 9103/9000.

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