BTC/USD stays in a consolidation phase below $10,000. Bitcoin continues to trade above 20-day SMA for third straight day. The BTC/USD pair rose decisively on Wednesday and Thursday and gained more than 8% during that period. After staging a technical recovery and closing the day 1.6% lower, the pair edged higher on Saturday and was last seen up 1.35% on the day at 9,552. Technical outlook Last week, BTC/USD broke below the 20-day SMA and struggled to rise above that line. However, the pair now trades above this SMA for the third straight day, pointing out to a near-term bullish outlook. Additionally, the Relative Strength Index (RSI) indicator on the daily chart is inching higher toward 60 to confirm that view. The initial resistance for Bitcoin aligns at $9,800. Above that level, $10,000-$10,050 area (psychological level/May 7 high) could be seen as the next critical hurdle. On the downside, supports are located at $,9250 (20-day SMA), $9,000 (psychological level) and $8,650 (Fibonacci 23.6% retracement of March 13 – May 17 uptrend). BTC/USD daily chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Ethereum Price Analysis: ETH/USD surges to 12-week highs above $230 FX Street 3 years BTC/USD stays in a consolidation phase below $10,000. Bitcoin continues to trade above 20-day SMA for third straight day. The BTC/USD pair rose decisively on Wednesday and Thursday and gained more than 8% during that period. After staging a technical recovery and closing the day 1.6% lower, the pair edged higher on Saturday and was last seen up 1.35% on the day at 9,552. Technical outlook Last week, BTC/USD broke below the 20-day SMA and struggled to rise above that line. However, the pair now trades above this SMA for the third straight day, pointing out to a near-term bullish… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
