Crypto Technicals: Bitcoin trapped between major moving averages, breakout will provide clear directional bias

BTC/USD chart - Trading View

Exchange - Coinbase

Support: 9006 (200-DMA); Resistance: 9616 (100-DMA)

Technical Analysis: Bias neutral

BTC/USD was trading 2.61% lower on the day at 9194.76 at 07:55 GMT, bias neutral.

The pair remains trapped between 2 major moving averages, 9616 (100-DMA) and 9006 (200-DMA).

Technical studies are inconclusive. Breakout on either side will provide a clear directional bias.

Major trend in the pair is bearish. Minor uptrend seems to have fizzled out. Technical studies are showing signs of retracement.

Stochs and RSI have turned and Stochastics RSI is on verge of bearish rollover from overbought levels.

Retrace below 200-DMA will see downside resumption. Next support lies at 20-DMA at 8404.

On the flipside, break above 100-DMA will see test of channel top at 9915. Channel breakout required for bullish continuation.

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