Crypto Technicals: BTC/USD hovers around 200-DMA (9026), break below to drag Bitcoin price lower

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Crypto Technicals: BTC/USD hovers around 200-DMA (9026), break below to drag Bitcoin price lower

BTC/USD chart – Trading View

Exchange – Coinbase

Support: 9026 (200-DMA); Resistance: 9295 (5-DMA)

Technical Analysis: Bias turning Bearish

BTC/USD extends weakness after rejection at channel top, bias is turning bearish.

The pair is testing 200-DMA support at 9026. Breach below will add to the bearish bias.

Stochs and RSI are biased lower and Stochastics RSI is on verge of bearish rollover from overbought levels.

Technical studies are turning bearish. ‘Death Cross’ (bearish 50-DMA crossover on 200-DMA) to weigh further.

Next major support lies at cloud base at 8599. Violation there will see drag till 7231 (61.8% Fib).

5-DMA is now immediate resistance at 9296. Channel breakout required for bullish continuation.

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