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.

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