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Crypto Technicals: BTC/USD rejected at 21-EMA, scope for resumption of weakness on break below 200H MA (7331)

Mon, 02 Dec 2019, 05:07 am UTC

BTC/USD chart - Trading View

Exchange - Coinbase

Support: 7331 (200H MA); Resistance: 7500 (5-DMA)

Technical Analysis: Bias Bearish

BTC/USD was trading 0.68% lower at 7353 at 04:40 GMT, intraday bias is bearish.

The pair is extending weakness for the 3rd consecutive session, scope for further downside.

Recovery attempts in the pair have been capped at 21-EMA, price has slipped below 5-DMA.

Major trend has been bearish and rejection at 21-EMA will likely see downside resumption.

The pair is currently holding support at 200H MA at 7331, break below will see weakness.

Technical studies support downside. MACD failed to make the bullish crossover on signal line.

5-DMA, Stochs and RSI are all biased lower on the daily charts. Stochastics RSI is on verge of rollover from overbought levels.

Break below 200H MA will see dip till 110W EMA at 6889 ahead of channel base at 6100.

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