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.
BTC/USD daily chart
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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
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.
