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BTC/USD chart - Trading View
Exchange - Coinbase
Technical Analysis: Bias Neutral
GMMA Indicator: Major Trend - Bearish; Minor Trend - Neutral
Overbought/ Oversold Index: Neutral
Support: 7605 (55-EMA); Resistance: 7908 (5-DMA)
BTC/USD extends trade in an extremely narrow range in the early Asian session with highs at 7845 and lows at 7763.
The pair is extending weakness for the 3rd straight session and price action has slipped below 5-DMA.
Upside was capped below cloud with spinning top formation at highs and Thursday's candle confirmed weakness.
Oscillators have rolled back into neutral territory and are now biased lower, 5-DMA is yet to turn.
Major trend is bearish. 55-EMA is strong support at 7605. Break below will see resumption of weakness.
Next major support lies at 7327 (nearly converged cloud base and 50-DMA). Breach below will open further downside.
5-DMA is immediate resistance at 7908. Upside continuation only on breakout above daily cloud.
