Crypto Technicals: BTC/USD trades rangebound around 61.8% Fib, intraday bias bearish

BTC/USD chart - Trading View

Exchange - Coinbase

Support: 7231 (61.8% Fib); Resistance: 7468 (5-DMA)

Technical Analysis: Bias Bearish

BTC/USD was trading largely rangebound at 7317 at 05:15 GMT, after closing 1.34% lower in the previous session.

The pair has paused 3 straight sessions of downside, however, intraday bias is still bearish.

Recovery attempts in the pair are struggling to hold break above 200H MA and 'Death Cross' on the hourly charts weighs.

Major and minor trend are bearish as shown by the GMMA indicator. Stochastics RSI are on verge of rollover from overbought.

Price action currently hovers around 61.8% Fib (7231), scope for dip till 110W EMA at 6888 ahead of channel base at 6100.

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