BTC/USD is trading in a close range on Monday as its upside is capped by 90-EMA. It is currently trading at 11592 levels at the time of writing (Bitstamp).

The pair surged to 13050 levels on January 20 but failed to close above.

On the topside, a consistent break above 11753 (90-EMA) would see the pair testing 12275 (10-DMA)/12610 (Cloud top). Further strength would target 12883 (4h 90-EMA)/13211 (38.2% retracement of 19666 and 9222)/13729 (20-DMA)/14691 (50-DMA).

On the flipside, support is seen at 11000 (100-DMA) and a break below would target 10592 (trend line joining 5555.55 and 10162)/10000. Further weakness would drag it to 9349 (61.8% retracement of 2972.01 and 19666)/9222 (January 17 low)/8824 (trend line joining 11159 and 9222).

Momentum studies: On the daily chart, RSI is weak at 40 and MACD line is below the signal line suggesting bearish bias. However, stochs have turned from near oversold levels and further weakness could be confirmed only on a break below 100-DMA.

Recommendation: Wait for clear directional bias.

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