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Bitcoin Price Analysis: BTC/USD bears take control after losing out of momentum near the $9,811.50 resistance level

FX Street
Updated:
  • The SMA 50 is looking to cross above the SMA 200 and form the golden cross pattern.
  • The Elliott Oscillator has had two straight red sessions.

BTC/USD daily chart

BTC/USD daily chart

BTC/USD dropped from $9,725,85 to $9,653.45 as the bears took charge after three straight bullish days. The SMA 50 is looking to cross above the SMA 200 and form the highly bullish golden cross pattern. The MACD shows sustained bearish momentum, while the Elliott Oscillator has had two straight red sessions.

There are two resistance levels for the bulls to overcome at $9,811.50 and $10,004.35. On the downside, the price has strong support at $9,338.25 and $8,810.

Key levels

 

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