TRENDING:
EUR/USD
GBP/USD
XAU/USD
Trade War
USD/CAD
AUD/USD
Sponsored by
Login
|

Bitcoin price analysis: BTC/USD gives in to massive sell pressure, drops below $9,000

  • BTC/USD dropped from $9,202.35 to $8,764.55 this Friday.
  • The MACD indicator has had two bearish sessions after 14 straight green sessions.
Bitcoin price analysis: BTC/USD gives in to massive sell pressure, drops below $9,000
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD sellers completely dominated the market this Friday, taking the price down from $9,202.35 to $8,764.55. So far this Saturday, the price has settled around $8,774. Before this Saturday’s sudden movement, BTC/USD was trending along in a narrow $400 range. The hourly breakdown for Friday shows us that the price dropped from $9,232.50 to $8,757 within 12 hours. Since this 12-hour drop, the price has been trending horizontally.

BTC/USD daily chart

fxsoriginal

Friday’s price action found resistance at the 200-day Simple Moving Average (SMA 200) curve and dropped below the SMA 20. SMA 50 is currently acting as immediate market support. The Moving Average Convergence/Divergence (MACD) indicates two bearish sessions after 14 straight bullish sessions, while the Elliott Oscillator has had four consecutive red sessions. The Relative Strength Index (RSI) indicator is trending around 48.275.
 

Author

Rajarshi Mitra

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.

More from Rajarshi Mitra
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

Crypto market outlook for 2026

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is.  Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).

Sberbank issues Russia's first corporate loan backed by Bitcoin

Sberbank issues Russia's first corporate loan backed by Bitcoin

Russia's largest bank Sberbank launched the country's first Bitcoin-backed corporate loan to miner Intelion Data. The pilot deal uses cryptocurrency as collateral through Sberbank's proprietary Rutoken custody solution.

Bitcoin recovers to $87,000 as retail optimism offsets steady ETF outflows

Bitcoin recovers to $87,000 as retail optimism offsets steady ETF outflows

Bitcoin (BTC) trades above $88,000 at press time on Tuesday, following a rejection at $90,000 the previous day. Institutional support remains mixed amid steady outflow from US spot BTC Exchange Traded Funds (ETFs) and Strategy Inc.’s acquisition of 1,229 BTC last week.

Traders split over whether lighter’s LIT clears $3 billion FDV after launch

Traders split over whether lighter’s LIT clears $3 billion FDV after launch

Lighter’s LIT token has not yet begun open trading, but the market has already drawn a sharp line around its valuation after Tuesday's airdrop.

Orange Juice Newsletter – Smart insights by real people. Every day.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.