Bitcoin Price Analysis: BTC/USD bulls desperately try to comeback following three bearish days
- BTC/USD is currently trending below the SMA 50.
- The Elliott Oscillator has had three straight red sessions.
- Bears now aim to take the price below the $9,300–level.
BTC/USD daily chart
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BTC/USD bulls took back control following three straight bearish days. The price has gone up from $9,303.64 to $9,325.25 in the early hours of Saturday. The downward trending line has repeatedly rejected the price. The Relative Strength Index (RSI) continues to trend around the neutral zone despite bearish dominance. The Elliott Oscillator has had two straight red sessions, following two consecutive green sessions.
Support and Resistance
BTC/USD faces four stiff resistance levels at SMA 50, $9,528.65, SMA 20 and $9,700. There are two healthy support levels on the downside – $9,273.30 and $9,063.45.
Key levels
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.
