Bitcoin Price Forecast: BTC/USD bulls manage a weak riposte after a sluggish Friday

BTC/USD bulls gave an underwhelming response after Thursday’s intensely bearish price action.
The Elliott Oscillator has had three straight green sessions.

Rajarshi Mitra Independent Analyst

BTC/USD daily chart

BTC/USD bulls came out on top after a sluggish Friday, wherein the price crawled up from $9,092.43 to $9,094. This followed a heavily bearish Thursday, wherein the price fell from the $9,250 mark. The Elliott Oscillator has had three straight green sessions, while the RSI is moving horizontally in the neutral zone.

Support and Resistance

BTC/USD faces strong resistance at $9,237, $9,293, $9,312.35 (SMA 20) and $9,424 (SMA 50). On the downside, healthy support lies at $9,000.45 and $8,904.20

Key levels

BTC/USD

Overview
Today last price	9094.16
Today Daily Change	1.92
Today Daily Change %	0.02
Today daily open	9092.24

Trends
Daily SMA20	9315.05
Daily SMA50	9422.55
Daily SMA100	8511.87
Daily SMA200	8367.42

Levels
Previous Daily High	9265.36
Previous Daily Low	8940.63
Previous Weekly High	9786.22
Previous Weekly Low	8988.56
Previous Monthly High	10404.88
Previous Monthly Low	8823.34
Daily Fibonacci 38.2%	9064.68
Daily Fibonacci 61.8%	9141.31
Daily Pivot Point S1	8933.46
Daily Pivot Point S2	8774.69
Daily Pivot Point S3	8608.74
Daily Pivot Point R1	9258.19
Daily Pivot Point R2	9424.14
Daily Pivot Point R3	9582.92

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 Forecast: BTC/USD bulls manage a weak riposte after a sluggish Friday