Crypto Technicals: BTC/USD falters at 200-DMA, break below 200H MA (8595) to see more weakness

BTC/USD chart - Trading View

Exchange - Coinbase

Technical Analysis: Bias Neutral

GMMA Indicator: Major Trend - Bullish; Minor Trend - Neutral

Overbought/ Oversold Index: Overbought, on verge of rollback into neutral

Volatility: High

Support: 8598 (200H MA); Resistance: 8777 (5-DMA)

BTC/USD was trading 0.54% lower at 8648 at around 05:40 GMT, intraday bias neutral to slightly bearish.

The pair was rejected at 200-DMA and is extending weakness below 5-DMA.

Oscillators are at overbought and on verge of rollback into neutral territory. Stochastics RSI is on verge of rollover from overbought.

The pair is currently holding support at 200H MA (currently at 8598), break below will see more downside.

Next major support lies at 21-EMA and daily cloud at 8215 and 8015 respectively.

Major trend has shifted to bullish, minor trend is neutral. Break below cloud will negate near-term bullish bias.

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