Crypto Technicals: BTC/USD in tight consolidation zone above 200H MA, bias bearish

BTC/USD chart - Trading View

Exchange - Coinbase

Support: 7052 (200H MA); Resistance: 7265 (21-EMA)

Technical Analysis: Bias Bearish

BTC/USD has been extending sideways above 200H MA support (currently at 7052).

The pair is extending grind lower for the 2nd straight session, was trading at 7125 at 04:30 GMT, down 0.32% at the time of writing.

Upside lacks follow through, finds stiff resistance at 21-EMA at 7265, technical indicators also fail to support.

Major trend is strongly bearish. That said, rollover of oscillators from oversold could see minor upside continuation.

Breakout at 21-EMA could see near-term gains. Next major hurdle lies at 55-EMA at 7770.

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