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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.

Rajarshi Mitra Independent Analyst

BTC/USD daily price 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 price	9172.69
Today Daily Change	-13.00
Today Daily Change %	-0.14
Today daily open	9185.69

Trends
Daily SMA20	9373.03
Daily SMA50	9407.54
Daily SMA100	8428.06
Daily SMA200	8337.24

Levels
Previous Daily High	9234.4
Previous Daily Low	9017.07
Previous Weekly High	9786.22
Previous Weekly Low	8988.56
Previous Monthly High	10074.48
Previous Monthly Low	8105.58
Daily Fibonacci 38.2%	9151.38
Daily Fibonacci 61.8%	9100.09
Daily Pivot Point S1	9057.04
Daily Pivot Point S2	8928.4
Daily Pivot Point S3	8839.72
Daily Pivot Point R1	9274.37
Daily Pivot Point R2	9363.05
Daily Pivot Point R3	9491.7

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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