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Bitcoin Price Forecast: BTC/USD consolidates above the $9,500-level

FX Street
Updated:
  • BTC/USD bears stepped in after two huge bullish days.
  • The MACD shows decreasing market momentum.

BTC/USD daily chart

BTC/USD daily chart

BTC/USD bears took control in the early hours of Friday as the price dropped from $9,578.70 to $9,513. The price broke above the triangle formation this Thursday and found support on the SMA 20 curve. The MACD shows decreasing market momentum, while William’s%R has jumped up from the edge of the oversold zone to the edge of the overbought zone.

Support and Resistance

BTC/USD faces twp resistance levels at $9,621.12 and $9,780.65. On the downside, healthy support levels lie at $9,313.45, SMA 20 and $8,823.45

Key levels

 

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