Bitcoin Price Forecast: BTC/USD continues freefall as bears remain in control for the fourth straight day

BTC/USD has dropped by nearly 5% since Tuesday.
The RSI continues to trend comfortably in the neutral zone.

Rajarshi Mitra Independent Analyst

BTC/USD daily chart

BTC/USD bears remained in control for the fourth straight day as the price fell from $9,239.79 to $9,184 in the early hours of Friday. Ever since Tuesday, the price has dropped by more than 5%. The Elliott Oscillator has had three straight red sessions, while the RSI continues to trend comfortably in the neutral zone.

Support and Resistance

BTC/USD has stiff resistance levels at $9,290.75, $9,425.25 (SMA 50) and $9,467.25 (SMA 20). On the downside, healthy support lies at $9,176.25 and $9,065

Key levels

BTC/USD

Overview
Today last price	9224.4
Today Daily Change	-15.61
Today Daily Change %	-0.17
Today daily open	9240.01

Trends
Daily SMA20	9499.22
Daily SMA50	9439.89
Daily SMA100	8303.47
Daily SMA200	8299.68

Levels
Previous Daily High	9337.17
Previous Daily Low	8988.56
Previous Weekly High	9589.87
Previous Weekly Low	8899.05
Previous Monthly High	10074.48
Previous Monthly Low	8105.58
Daily Fibonacci 38.2%	9121.73
Daily Fibonacci 61.8%	9204
Daily Pivot Point S1	9039.99
Daily Pivot Point S2	8839.97
Daily Pivot Point S3	8691.39
Daily Pivot Point R1	9388.6
Daily Pivot Point R2	9537.19
Daily Pivot Point R3	9737.21

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 continues freefall as bears remain in control for the fourth straight day