Bitcoin Price Forecast: BTC/USD bears take control as markets opened this Saturday

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  • BTC/USD bears take control after a bullish Friday.
  • Elliott Oscillator has had seven straight green sessions.
  • The RSI is hovering around the neutral zone.

BTC/USD daily chart

BTC/USD daily chart

BTC/USD bears took control in the early hours of Saturday as the price fell from $9,289.40 to $9,275.25. The RSI is still hovering around the neutral zone, so further price drop could be expected. The Elliott Oscillator has had seven consecutive green sessions, wherein it went up from -283 to -38.58.

Support and Resistance

BTC/USD has strong resistance levels at $9,350, $9,378.75 (SMA 50) and $9,443.25. On the downside, the price has healthy support levels at $9,246.15 (SMA 20), $9,235.45 and $9,135.

Key levels

 

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