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Bitcoin Price Forecast: BTC/USD continues freefall as bears remain in control for the fourth straight day

FX Street
Updated:
  • BTC/USD has dropped by nearly 5% since Tuesday.
  • The RSI continues to trend comfortably in the neutral zone.

BTC/USD daily chart

BTC/USD daily chart

BTC/USD bears remained in control for the fourth straight day as the price fell from $9,239.79 to $9,184 in the early hours of Friday. Ever since Tuesday, the price has dropped by more than 5%. The Elliott Oscillator has had three straight red sessions, while the RSI continues to trend comfortably in the neutral zone.

Support and Resistance

BTC/USD has stiff resistance levels at $9,290.75, $9,425.25 (SMA 50) and $9,467.25 (SMA 20). On the downside, healthy support lies at $9,176.25 and $9,065

Key levels

 

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