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Bitcoin Price Analysis: BTC/USD bulls retain control, as price continues resurgence

FX Street
Published date:
  • BTC/USD bulls retained control in the early hours of Saturday.
  • The Elliott Oscillator has had four straight red sessions.

BTC/USD daily chart

BTC/USD daily chart

BTC/USD bulls retained control in the early hours of Saturday as the price went up from $9,154.57 to $9,166.70. The price is currently consolidating above the $9,150 psychological level and the SMA 20 curve. The Elliott oscillator has had four straight red sessions, showing that the current market sentiment is still bearish despite the bullish price action. The RSI is trending around the neutral zone.

Support and Resistance

BTC/USD faces strong resistance levels at $9,207.15 (SMA 20), $9,243, $9,392.60 (SMA 50) and $9,431.65. On the downside, healthy support levels lie at $9,135.50 and $9,018.50.

Key levels

 

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