Bitcoin steadies above $9,000 following a four-day slump. Near-term bearish outlook remains intact with RSI staying below 50. After gaining more than 4% and closing in on $10,000, Bitcoin (BTC/USD) lost its traction and closed the last four trading days in the negative territory. The pair lost nearly 6% during that period but seems to have found near $9,000. As of writing, Bitcoin was virtually unchanged on a daily basis at $9,150. Technical outlook Bitcoin closed the third straight day below both the 20-day and the 50-day SMAs on Friday, suggesting that sellers remain in control of the price action. Additionally, the Relative Strength Indicator on the daily chart dropped below 50 to confirm the near-term bearish outlook. On the downside, $9,000 area (psychological level/Fibonacci 23.6% retracement of March-June rally) aligns as a critical support level ahead of $8,600 (static level) and $8,400 (100-day SMA). Resistances could be seen at $9,400 (20-day SMA/50-day SMA), $,9,780 (June 22 high) and $10,000 (psychological level). Additional technical levels to watch for 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 posts small daily gains near $230 FX Street 2 years Bitcoin steadies above $9,000 following a four-day slump. Near-term bearish outlook remains intact with RSI staying below 50. After gaining more than 4% and closing in on $10,000, Bitcoin (BTC/USD) lost its traction and closed the last four trading days in the negative territory. The pair lost nearly 6% during that period but seems to have found near $9,000. As of writing, Bitcoin was virtually unchanged on a daily basis at $9,150. Technical outlook Bitcoin closed the third straight day below both the 20-day and the 50-day SMAs on Friday, suggesting that sellers remain in control of the price action.… 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.
