Crypto Technicals: BTC/USD rangebound around 200H MA, retrace below channel top could drag the pair lower

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Crypto Technicals: BTC/USD rangebound around 200H MA, retrace below channel top could drag the pair lower

BTC/USD chart – Trading View

Exchange – Coinbase

Technical Analysis: Bias Neutral

Support: 8435 (Channel top); Resistance: 9015 (200-DMA)

BTC/USD was trading marginally higher on the day at 8650, up 0.25% at around 03:50 GMT.

The pair paused downside and is currently hovering around 200H MA, bias remains neutral.

Major trend has shifted to bullish with turn in long-term moving averages. Near-term trend is neutral.

Upside in the pair was rejected at 200-DMA and breakout required for upside continuation.

Overbought oscillators are resulting in minor corrections in the pair. No major signs of reversal seen.

Price action holds above channel top (resistance turned support at 8435). Retrace below will see drag till 21-EMA at 8254.

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