Bitcoin Price Forecast: BTC/USD trends in a narrow channel between SMA 20 and SMA 50
|- BTC/USD bears have retained control in the early hours of Thursday.
- The Elliott Oscillator has had a red session following two straight green sessions.
- The RSI indicator has been trending in the neutral zone over the last eight days.
BTC/USD daily chart
BTC/USD has dropped from $9,457.68 to $9,432 in the early hours of Thursday. The price is sandwiched between SMA 20 and SMA 50 and has found resistance at the downward trending line. The Elliott Oscillator has had a red session, following two straight green sessions. The RSI indicator is trending at the neutral zone as the bulls and bears have effectively canceled each other out.
Support and Resistance
BTC/USD has found resistance at $9,523.15, SMA 20 and $9,700. On the downside, healthy support lies at SMA 50, $9,280.65 and $9,067.55.
Key levels
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