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.

Rajarshi Mitra Independent Analyst

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 price	9310.21
Today Daily Change	-8.00
Today Daily Change %	-0.09
Today daily open	9318.21

Trends
Daily SMA20	8715.76
Daily SMA50	7601.18
Daily SMA100	7998.97
Daily SMA200	8034.11

Levels
Previous Daily High	9414.38
Previous Daily Low	8806.9
Previous Weekly High	10074.48
Previous Weekly Low	8535.49
Previous Monthly High	9476.83
Previous Monthly Low	6156.67
Daily Fibonacci 38.2%	9182.32
Daily Fibonacci 61.8%	9038.95
Daily Pivot Point S1	8945.28
Daily Pivot Point S2	8572.35
Daily Pivot Point S3	8337.8
Daily Pivot Point R1	9552.76
Daily Pivot Point R2	9787.3
Daily Pivot Point R3	10160.23

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 runs out of steam as it nears the $9,500 level