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Bitcoin Price Forecast: BTC/USD faces bearish correction following two straight bullish days

  • BTC/USD has had a bearish start to Tuesday.
  • The Elliott Oscillator has had seven straight red sessions of increasing intensity.

BTC/USD daily price chart

BTC/USD daily chart

BTC/USD faces bearish correction following two straight bullish days as the price went down from $9,187.70 to $9,168.15. BTC/USD is presently moving in the lower half of the 20-day Bollinger Band, which is currently narrowing to show decreasing price volatility. The RSI is trending in the neutral zone, while the Oscillator has had seven straight red sessions of increasing intensity.

Support and Resistance

BTC/USD has four strong resistance levels at $9,289.60, $9,373,30 (SMA 20), $9,405.18 (SMA 50) and $9,468.95. On the downside, there are two healthy support levels at $9,114.25 and $9,006.65

Key levels

BTC/USD

Overview
Today last price9172.69
Today Daily Change-13.00
Today Daily Change %-0.14
Today daily open9185.69
 
Trends
Daily SMA209373.03
Daily SMA509407.54
Daily SMA1008428.06
Daily SMA2008337.24
 
Levels
Previous Daily High9234.4
Previous Daily Low9017.07
Previous Weekly High9786.22
Previous Weekly Low8988.56
Previous Monthly High10074.48
Previous Monthly Low8105.58
Daily Fibonacci 38.2%9151.38
Daily Fibonacci 61.8%9100.09
Daily Pivot Point S19057.04
Daily Pivot Point S28928.4
Daily Pivot Point S38839.72
Daily Pivot Point R19274.37
Daily Pivot Point R29363.05
Daily Pivot Point R39491.7


 

Author

Rajarshi Mitra

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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