Bitcoin Price Analysis: BTC/USD returns to $9,500 after posting modest gains on Saturday


  • Bitcoin gained traction and posted modest daily gains on Saturday.
  • BTC/USD preserves near-term neutral outlook with daily RSI staying near 50.

Bitcoin (BTC/USD) stayed relatively quiet near $9,500 for the majority of the day on Saturday but pushed higher toward the end of the American session to close 2.9% higher at $9,700. Nevertheless, the pair failed to build on those gains and was last seen losing 2% on the day at $9,500. For the week, Bitcoin is up around 9%.

Technical outlook

Despite Saturday's advance, the daily Relative Strength Index (RSI) for Bitcoin continues to move sideways near 50, suggesting that the near-term outlook remains neutral.

Resistances align at $9,700 (Saturday's daily closing level), $9,8000 (static level) and $10,000-$10,050 area (psychological level/May 7 high). Supports could be seen at $,9300 (20-day SMA), $9,000 (psychological level) and $8,650 (Fibonacci 23.6% retracement of March 13 - May 17 uptrend).

BTC/USD daily chart

Additional technical levels

BTC/USD

Overview
Today last price 9537.24
Today Daily Change -164.06
Today Daily Change % -1.69
Today daily open 9701.3
 
Trends
Daily SMA20 9284
Daily SMA50 8486.02
Daily SMA100 7904.49
Daily SMA200 8060.6
 
Levels
Previous Daily High 9751.96
Previous Daily Low 9329.4
Previous Weekly High 9614.06
Previous Weekly Low 8637.26
Previous Monthly High 9476.83
Previous Monthly Low 6156.67
Daily Fibonacci 38.2% 9590.54
Daily Fibonacci 61.8% 9490.82
Daily Pivot Point S1 9436.48
Daily Pivot Point S2 9171.65
Daily Pivot Point S3 9013.91
Daily Pivot Point R1 9859.04
Daily Pivot Point R2 10016.79
Daily Pivot Point R3 10281.61

 

 

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