Bitcoin Technical Analysis: BTC/USD freefall continues as bears retain control for the third straight day
- BTC/USD bears aim to take price below the $9,100 psychological level.
- The Elliott Oscillator has had three straight red sessions, indicating that overall market sentiment is bearish.
BTC/USD daily chart
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BTC/USD bears stayed in control of the market for the third straight day. BTC/USD has so far gone down from $9,131.30 to $9,118.40 this Friday. The bears will target the $9,100 psychological level, next. The Elliott Oscillator has had three straight bearish sessions, while the RSI is hovering around the neutral zone.
Support and Resistance
BTC/USD has strong resistance levels at $9,200 (SMA 20), $9,246.25, $9,389.35 (SMA 50) and $9,430. On the downside, healthy support exists at $9,070.56 and $9,021.75.
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.
