Crypto Technicals: BTC/USD bounces off 200-DMA support, eyes channel top at 9715

BTC/USD chart - Trading View

Exchange - Coinbase

Support: 9277 (200H SMA); Resistance: 9715 (Channel top)

Technical Analysis: Bias neutral to slightly bullish

BTC/USD has bounced off 200-DMA support on Monday's trade.

The pair is trading 0.10% lower on the day at 9403 at 05:15 GMT after closing 2.24% higher on Monday.

Technical studies are neutral. Price action remains capped between 2 major moving averages (100 and 200 DMA).

Price action slips lower in 'Sloping Channel' pattern and 'Death Cross' keeps scope for weakness.

Break below 200-DMA will see downside resumption. Dip till 61.8% Fib at 7231.40.

On the flipside, break above 100-DMA (9589) will take the pair higher to test channel top at 9715.

Channel breakout will negate any bearish bias in the pair. Gains upto 11357.94 (61.8% Fib) likely.

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