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Bitcoin Price Analysis: BTC/USD runs out of steam as it nears the $9,500 level

  • BTC/USD recovery begin to falter ahead of key resistance level.
  • The Elliott Oscillator has had five straight red sessions.
  • The 20-day Bollinger jaw has narrowed, which indicates decreasing price volatility.
Bitcoin Price Analysis: BTC/USD runs out of steam as it nears the $9,500 level
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD daily chart

BTC/USD daily chart

BTC/USD dropped a bit from $9,320 to $9,303 following a hugely bullish Wednesday. The Elliott Oscillator has had five straight red sessions, while the MACD shows sustained bearish momentum. The 20-day Bollinger jaw has narrowed, which indicates decreasing price volatility.

The price faces two resistance levels on the upside at $9,500 and $9,735. On the downside, there are two healthy support levels at $8,815.35 and $8,214.40.

Key levels

BTC/USD

Overview
Today last price9310.21
Today Daily Change-8.00
Today Daily Change %-0.09
Today daily open9318.21
 
Trends
Daily SMA208715.76
Daily SMA507601.18
Daily SMA1007998.97
Daily SMA2008034.11
 
Levels
Previous Daily High9414.38
Previous Daily Low8806.9
Previous Weekly High10074.48
Previous Weekly Low8535.49
Previous Monthly High9476.83
Previous Monthly Low6156.67
Daily Fibonacci 38.2%9182.32
Daily Fibonacci 61.8%9038.95
Daily Pivot Point S18945.28
Daily Pivot Point S28572.35
Daily Pivot Point S38337.8
Daily Pivot Point R19552.76
Daily Pivot Point R29787.3
Daily Pivot Point R310160.23


 

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.

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