Bitcoin Price Analysis: BTC/USD bears currently look to conquer support at SMA 20 curve

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  • BTC/USD bears stayed in control for the second straight day as price sits on top of SMA 20.
  • BTC/USD went through a bearish correction, following a bullish Monday.
  • The MACD shows that market momentum has reversed from bearish to bullish.

BTC/USD daily chart

BTC/USD daily chart

BTC/USD dropped from $9,255.80 to $9,255.15 as the bears remained in control for the second straight day. Currently, the price is sitting on top of the SMA 20 curve. The Elliott Oscillator has had four consecutive green sessions, while the MACD shows that market momentum is presently bullish.

Support and Resistance 

BTC/USD faces strong resistance at $9,345.50, $9,385.65 (SMA 50) and $9,460. On the downside, healthy support levels lie at $9,234.25 (SMA 20) and $9,135.40.

Key levels

 

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