Crypto Technicals: BTC/USD consolidates break above 200H MA, scope for further upside

BTC/USD chart - Trading View

Exchange - Coinbase

Support: 7395 (200H MA); Resistance: 7919

Technical Analysis: Bias slightly bullish

BTC/USD is consolidating previous session's gains, bias is turning slightly bullish.

The pair has broken above 200H MA and is extending gains above 5-DMA.

Technical indicators on the daily and intraday charts are turning slightly bullish.

5-DMA has turned North and MACD is on verge of bullish crossover on signal line.

Stochs and RSI have rollover from oversold levels and volatility is rising on the hourly charts.

Scope for minor gains, next major hurdle lies at 21-EMA at 7918. Breakout above 21-EMA will see upside continuation.

Major trend still remains bearish. The pair finds strong support around 7485. Break below will see weakness.

Retrace below 5-DMA negates any bullish bias. Resumption of weakness will see dip till 6250 (channel base).

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