Crypto Technicals: BTC/USD consolidates below 200H-SMA, scope for weakness on bearish divergence

BTC/USD chart - Trading View

Exchange - Coinbase

Support: 8196 (20-DMA); Resistance: 8601 (converged 21 and 55-EMA)

Technical Analysis: Bias neutral

BTC/USD trades 2.79% lower on the day at 8492 at 10:35 GMT.

The pair is extending sideways along 5-DMA, bias remains bearish.

Price action has slipped below 1H 200-SMA and the pair is consolidating the dip.

'Bearish divergence' seen on RSI and stochs which adds to the downside bias.

Immediate support is seen at 20-MA at 8197. Break below will see dip till 23.6% Fib at 7683.

Retrace above 1H 200-SMA could see minor gains. Test of Upper BB at 8823 likely.

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