BTC/USD is trading in a close range on Wednesday as its upside is capped by 100-DMA. It is currently trading at 10811 levels at the time of writing (Bitstamp).

On the topside, a break above 11094 (100-DMA) would see the pair testing 11381 (7-DMA)/11588 (10-DMA)/11698 (90-EMA). Further strength would target 12000/12610 (Cloud bottom)/13000/13263 (30-DMA).

On the flipside, support is seen at 10000 and a break below would see it testing 9837 (trend line joining 11159.93 and 10162)/9589 (trend line joining 2972.01 and 9222). Further weakness would drag it to 9349 (61.8% retracement of 2972.01 and 19666)/ 9222 (January 17 low)/9000.

Momentum studies: Bias appears bearish on the daily chart with RSI at 39, MACD line below the signal line and 10 and 20-DMA biased lower. However, a doji formation on January 23 and the price action moving away from lower Bollinger suggest scope for minor pullback. If the pair closes above 100-DMA, it could be seen testing Cloud bottom (12600 levels).

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