Bitcoin Price Forecast: BTC/USD bulls take charge as price consolidates in a pennant formation
|- BTC/USD bulls took charge following a bearish Tuesday.
- The MACD shows sustained but slight bearish momentum.
- The Elliott Oscillator has had a green session, following a red session.
BTC/USD daily confluence detector
BTC/USD bulls took charge following a bearish Tuesday as it continues to trend within the pennant formation. The price has gone up from $9,779.25 to $9,880. The MACD shows sustained but slight bearish momentum. The Elliott Oscillator has had a green session, following a red session, while William’s %R is trending around -37.20, near the neutral zone. There is no clear winner among the bulls and bears right now.
Support and Resistance
BTC/USD bulls will need to go past strong resistance at $10,013 and $10,222, to continue the upward momentum. On the downside, there are healthy support levels at $9,710, SMA 20 and $9,477.80
Key levels
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