Bitcoin Price Analysis: BTC/USD stays flat above $9,000

Bitcoin steadies above $9,000 following a four-day slump.
Near-term bearish outlook remains intact with RSI staying below 50.

Eren Sengezer FXStreet

After gaining more than 4% and closing in on $10,000, Bitcoin (BTC/USD) lost its traction and closed the last four trading days in the negative territory. The pair lost nearly 6% during that period but seems to have found near $9,000. As of writing, Bitcoin was virtually unchanged on a daily basis at $9,150.

Technical outlook

Bitcoin closed the third straight day below both the 20-day and the 50-day SMAs on Friday, suggesting that sellers remain in control of the price action. Additionally, the Relative Strength Indicator on the daily chart dropped below 50 to confirm the near-term bearish outlook.

On the downside, $9,000 area (psychological level/Fibonacci 23.6% retracement of March-June rally) aligns as a critical support level ahead of $8,600 (static level) and $8,400 (100-day SMA).

Resistances could be seen at $9,400 (20-day SMA/50-day SMA), $,9,780 (June 22 high) and $10,000 (psychological level).

Additional technical levels to watch for

BTC/USD

Overview
Today last price	9161.59
Today Daily Change	6.44
Today Daily Change %	0.07
Today daily open	9155.15

Trends
Daily SMA20	9473.41
Daily SMA50	9422.93
Daily SMA100	8340.89
Daily SMA200	8308.76

Levels
Previous Daily High	9289.32
Previous Daily Low	9028.54
Previous Weekly High	9786.22
Previous Weekly Low	8988.56
Previous Monthly High	10074.48
Previous Monthly Low	8105.58
Daily Fibonacci 38.2%	9128.15
Daily Fibonacci 61.8%	9189.7
Daily Pivot Point S1	9026.02
Daily Pivot Point S2	8896.89
Daily Pivot Point S3	8765.24
Daily Pivot Point R1	9286.8
Daily Pivot Point R2	9418.45
Daily Pivot Point R3	9547.58

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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