Crypto Technicals: BTC/USD consolidates previous session's losses, more weakness to follow

BTC/USD chart - Trading View

Exchange - Coinbase

Support: 6783 (Lower BB); Resistance: 7094 (5-DMA)

Technical Analysis: Bias Bearish

BTC/USD has edged higher from session lows at 6854 and was trading at 7011, up 0.89% at 04:20 GMT.

The pair is consolidating previous session's losses, bias remains bearish with scope for more weakness.

Major and minor trend are bearish as evidenced by the GMMA indicator. Further, the parabolic SAR now supports downside.

Technical indicators like the RSI and Stochastics support weakness. Upside remains capped at 5-DMA as the pair extends weakness below 200H MA.

Lower BB is immediate support at 6787. Break below eyes trendline support at 6450.

TokenPost | [email protected]