Bitcoin Price Analysis: BTC/USD bears currently look to conquer support at SMA 20 curve

BTC/USD bears stayed in control for the second straight day as price sits on top of SMA 20.
BTC/USD went through a bearish correction, following a bullish Monday.
The MACD shows that market momentum has reversed from bearish to bullish.

Rajarshi Mitra Independent Analyst

BTC/USD daily chart

BTC/USD dropped from $9,255.80 to $9,255.15 as the bears remained in control for the second straight day. Currently, the price is sitting on top of the SMA 20 curve. The Elliott Oscillator has had four consecutive green sessions, while the MACD shows that market momentum is presently bullish.

Support and Resistance

BTC/USD faces strong resistance at $9,345.50, $9,385.65 (SMA 50) and $9,460. On the downside, healthy support levels lie at $9,234.25 (SMA 20) and $9,135.40.

Key levels

BTC/USD

Overview
Today last price	9239.09
Today Daily Change	-16.70
Today Daily Change %	-0.18
Today daily open	9255.79

Trends
Daily SMA20	9248.27
Daily SMA50	9382.42
Daily SMA100	8651.16
Daily SMA200	8421.22

Levels
Previous Daily High	9380.8
Previous Daily Low	9204.8
Previous Weekly High	9298.41
Previous Weekly Low	8933.95
Previous Monthly High	10404.88
Previous Monthly Low	8823.34
Daily Fibonacci 38.2%	9272.03
Daily Fibonacci 61.8%	9313.57
Daily Pivot Point S1	9180.13
Daily Pivot Point S2	9104.46
Daily Pivot Point S3	9004.12
Daily Pivot Point R1	9356.13
Daily Pivot Point R2	9456.47
Daily Pivot Point R3	9532.14

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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Bitcoin Price Analysis: BTC/USD bears currently look to conquer support at SMA 20 curve