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  • BTC/USD bears have stayed in control for the second straight day.
  • The price has fallen below the SMA 20 and SMA 50 curves.
  • The Elliott Oscillator has had a red session following two straight green sessions.

BTC/USD daily chart

BTC/USD daily chart

BTC/USD bears stayed in control for the second straight day as it charted the evening star pattern. The price plummeted from $9,623.62 to $9,277.70 and dropped below the SMA 20 and SMA 50 curves. The Elliott Oscillator has had a red session, following two straight green sessions. Meanwhile, the RSI indicator has dropped to 45.35 after the bearish price action.

Support and Resistance

BTC/USD has strong resistance levels at $9,700, $9,517.20 (SMA 20), $9,472.25 and $9,438.55 (SMA 50). On the downside, the bears will want to conquer support levels at $9,206.30 (downward trending line) and $9,175 to negative momentum.

Key levels