Crypto Technicals: BTC/USD finds strong support at 200H MA (9224), break below to see further weakness

BTC/USD chart - Trading View

Exchange - Coinbase

Technical Analysis: Bias Neutral

Support: 9224 (200H MA); Resistance: 9750 (Trendline)

Bitcoin struggles to extend positive momentum, long upper wick on Monday's candle suggests selling pressure at highs.

The pair has turned slightly bearish with turn in 5-DMA which is now capping upside at 9315.

BTC/USD was trading 0.32% lower on the day at 9251 at around 04:50 GMT, after closing 0.46% lower in the previous session.

Oscillators are at overbought levels and on verge of rollback into neutral. 'Bearish Divergence' on the hourly charts adds to the bearish bias.

Price action is now holding above crucial 200H MA support at 9224. Break below suggests near-term weakness for the pair.

Next major support lies at 200-DMA at 8868. Violation at 200-DMA will open further downside. Dip till 110-EMA at 8321 then likely.

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