Technical indicators show buyers are trying to breach past the $6,600 zone but have been unsuccessful so far. Most of yesterday’s trading sessions remained sideways at $6,800. Today there’s a touch of bullish action happening at the moment looking at the 4-hour BTC/USD chart but it’s not much. Both Simple Moving Averages (SMA) are again spread with the 100 SMA well below the long-term 200 SMA trendline. Both Macd and RSI Stochastic oscillators have been sliding southbound following the bearish divergence. Order books show that walls above the $7,600-8,200 zones are not too bad but bulls need to accumulate momentum to take the price to those levels. On the back side, BTC/USD order books show some really strong support around the $5,900 range once again. That specific foundational support flows all the way to the $5,400 range and traders can expect pit stops in those areas.
