Bitcoin Price Forecast: BTC/USD bulls manage a weak riposte after a sluggish Friday

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  • BTC/USD bulls gave an underwhelming response after Thursday’s intensely bearish price action.
  • The Elliott Oscillator has had three straight green sessions.

BTC/USD daily chart

BTC/USD daily chart

BTC/USD bulls came out on top after a sluggish Friday, wherein the price crawled up from $9,092.43 to $9,094. This followed a heavily bearish Thursday, wherein the price fell from the $9,250 mark. The Elliott Oscillator has had three straight green sessions, while the RSI is moving horizontally in the neutral zone.

Support and Resistance

BTC/USD faces strong resistance at $9,237, $9,293, $9,312.35 (SMA 20) and $9,424 (SMA 50). On the downside, healthy support lies at $9,000.45 and $8,904.20

Key levels

 

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