# Crypto Technicals: BTC/USD pauses at channel top (9940), upside momentum fading

By Anupama Grandhi

Canonical URL: https://www.tokenpost.com/news/investing/3917
Published: 2019-10-28T05:09:13.000Z
Updated: 2019-10-28T05:09:13.000Z
Section: Investing

> Support: 9156 (23.6% Fib); Resistance: 9940 (Channel Top)

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

Exchange - Coinbase

Support: 9156 (23.6% Fib); Resistance: 9940 (Channel Top)

Technical Analysis: Bias turning neutral

BTC/USD has edged lower from session highs at 9939, hovers around daily cloud.

The pair was trading at 9637 at 04:30 GMT, up 0.86% on the day after closing 3.12% higher in the previous session.

Price action has been capped at channel top resistance at 9940, break above could propel the pair higher.

GMMA indicators shows shift in near-term trend to bullish. However, major trend, as indicated by longer-term moving averages is still bearish.

That said, we see signs of exhaustion. Stochs and RSI are showing a slight turn near oversold levels.

'Death Cross' formation (bearish 50-DMA crossover on 200-DMA) on the daily charts weighs.

Price action is outside the upper Bollinger band and is struggling to hold break above cloud.

Immediate support lies at 23.6% Fib at 9156. Retrace below 200-DMA to see bearish resumption.

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## Links in this article

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