# Crypto Technicals: BTC/USD consolidates below 200H-SMA, scope for weakness on bearish divergence

By Anupama Grandhi

Canonical URL: https://www.tokenpost.com/news/investing/2076
Published: 2019-06-03T11:01:07.000Z
Updated: 2019-06-03T11:02:38.000Z
Section: Investing

> Support: 8196 (20-DMA); Resistance: 8601 (converged 21 and 55-EMA)

[BTC/USD](<https://www.tradingview.com/symbols/BTCUSD/>) chart - Trading View

Exchange - Coinbase

Support: 8196 (20-DMA); Resistance: 8601 (converged 21 and 55-EMA)

Technical Analysis: Bias neutral

BTC/USD trades 2.79% lower on the day at 8492 at 10:35 GMT.

The pair is extending sideways along 5-DMA, bias remains bearish.

Price action has slipped below 1H 200-SMA and the pair is consolidating the dip.

'Bearish divergence' seen on RSI and stochs which adds to the downside bias.

Immediate support is seen at 20-MA at 8197. Break below will see dip till 23.6% Fib at 7683.

Retrace above 1H 200-SMA could see minor gains. Test of Upper BB at 8823 likely.

For details on FxWirePro's Currency Strength Index, visit [http://www.fxwirepro.com/currencyindex](<http://www.fxwirepro.com/currencyindex>).

## Links in this article

- [BTC/USD](https://www.tradingview.com/symbols/BTCUSD/)
- [http://www.fxwirepro.com/currencyindex](http://www.fxwirepro.com/currencyindex)