BTC/USD is trading lower on Tuesday as it failed to close above 23.6% retracement of 9948.98 and 5774.72. It is trading at 6600 levels at press time (Bitstamp).

On the upside, a decisive break above 6759 (23.6% retracement of 9948.98 and 577472) would see the pair testing 6874 (50-DMA)/7000. Further strength would target 7145 (cloud bottom)/ 7369 (38.2% retracement of 9948.98 and 5774.72).

On the downside, the pair trying to hold above 6567 (21-EMA) and any violation would drag it to 6461 (3h 100-SMA)/6395 (20-DMA). Further weakness would see it testing 6283 (4h cloud bottom)/ 6120 (June 13 low)/6000.

Momentum studies: On the daily chart, RSI has slipped below 50 and stochs are showing a turn from overbought levels, while MACD line is above the signal line.

Bias is bearish on the hourly charts, which along with bearish RSI divergence, suggest scope for further downside.

Watch out for a break below 21-EMA for a dip till 6400 levels.