Bitcoin Price Analysis: Buyers make sure that price stays above $9,000 following Thursday’s carnage

BTC/USD dropped below the SMA 20 curve following Thursday’s price action.
Both MACD and Elliott Oscillator show increasing bearish sentiment.

Rajarshi Mitra Independent Analyst

BTC/USD daily price chart

BTC/USD went up slightly from $9,060 to $9,091.25 in the early hour of Friday. This follows a hectic Thursday where Bitcoin crashed from $9,520 to $9,060, going below the SMA 20 curve, in the process. The MACD shows increasing bearish momentum, while the Elliott Oscillator has had five straight red sessions.

The bulls need to overcome resistance at $9,313.50, SMA 20 and 9,880.95 to reverse the ongoing bearish momentum. The bears should aim for support levels at $8,948.70 and $8,600 to continue the downward momentum.

Key levels

BTC/USD

Overview
Today last price	9081.75
Today Daily Change	22.29
Today Daily Change %	0.25
Today daily open	9059.46

Trends
Daily SMA20	9300.02
Daily SMA50	8097.18
Daily SMA100	7976.05
Daily SMA200	8055.96

Levels
Previous Daily High	9567.69
Previous Daily Low	8800.12
Previous Weekly High	9944.79
Previous Weekly Low	8105.58
Previous Monthly High	9476.83
Previous Monthly Low	6156.67
Daily Fibonacci 38.2%	9093.33
Daily Fibonacci 61.8%	9274.48
Daily Pivot Point S1	8717.15
Daily Pivot Point S2	8374.85
Daily Pivot Point S3	7949.58
Daily Pivot Point R1	9484.73
Daily Pivot Point R2	9909.99
Daily Pivot Point R3	10252.3

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.

Markets move fast. We move first.

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

Editor's Picks

Solana Price Forecast: SOL consolidates as spot ETF inflows near $1 billion signal institutional dip-buying

Solana (SOL) price hovers above $131 at the time of writing on Monday, nearing the upper boundary of a falling wedge pattern, awaiting a decisive breakout.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH and XRP face pressure near key technical barriers

Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) hover around key levels on Monday after correcting slightly in the previous week. The top three cryptocurrencies by market capitalization could face increased downside risk as bearish momentum builds across key indicators.

Top Crypto Losers: DASH, SPX, PENGU – Privacy and meme coins lose ground

Altcoins, including Dash (DASH), SPX6900 (SPX), and Pudgy Penguins (PENGU), are leading losses as the broader cryptocurrency market remains cautious ahead of the macroeconomic data releases, such as the US Nonfarm payroll report, CPI data, and the Bank of Japan’s rate-hike decision.

Top 3 Price Prediction: BTC and ETH eyes breakout, XRP steadies at support

Bitcoin (BTC) and Ethereum (ETH) are nearing the key resistance levels at the time of writing on Friday, and a successful breakout could open the door for a fresh rally. Meanwhile, Ripple (XRP) is stabilizing around a crucial support zone, hinting at a potential rebound if buyers maintain control.

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 (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.

BTC/USD daily price chart

Key levels

BTC/USD

Legal Text

Markets move fast. We move first.

Editor's Picks