FxWirePro: BTC/USD trades just shy of 10-DMA, break above to see minor upside

(Refer BTC/USD chart on Trading View)

BTC/USD is trading higher on Thursday and hovering around the 6400 mark at the time of writing.

On the upside, resistance is seen at 6464 (10-DMA) and a consistent break above would see it testing 6500/6596 (4h 200-SMA). Further strength would target 6740 (20-DMA)/6793 (100-DMA).

On the flip side, any violation of 6303 (5-DMA) would see the pair testing 6207 (78.6% retracement of 5880 and 7125.28)/6173 (trend line joining 5774.72 and 5995.75). Further weakness would drag it to 6094 (September 9 low)/6000.

On the daily chart, RSI is below 50 and MACD line is below the signal line, suggesting bearish bias. However, 5-DMA is now biased higher and stochs looking for a rollover from the oversold zone.

A break above 10-DMA could see minor upside in the pair.