BTC/USD has been trading in a tight range since the beginning of the week. The critical support is created by psychological barrier $9,000. BTC/USD is changing hands at $9,150, mostly unchanged both on a day-to-day basis and since the beginning of Tuesday. The first digital coin has been locked in a tight range since the start of the week as growth attempts are limited by $9,200, while the dips below $9,000 are heavily bought. The market capitalization of the first digital asset settled at $167 billion, while its market share is registered at 64.9%. BTC/USD: Technical picture Despite the recovery from under $9,000, BTC/USD is still locked in a tight range with the short-term bearish bias. The crucial resistance is created by a confluence of the daily SMA50 and the middle line of the the daily Bollinger Band at $9,400. A sustainable move above this area is needed for the upside to gain traction and bring $9,700 into focus. THis barrier is reinforced by the upper line of the daily Bollinger Band. It separates the coin from $9,800 that capped the upside momentum for the most part of the current month. Considering the flat RSI on the daily chart, BTC/USD may stay sidelined in a tight range at least until the US opening. On the downside, $9,000 is still regarded as a pivotal support that has been tested on several occasions and proved its strength. Each time BTC/USD slumps below this line, new buyers pop in and push it back inside the current range. The next support is created by $8,800 (with the lowest level of the previous week is at $8,823). It is closely followed by the weekly SMA50 at $8,700. This barrier has a potential to slow down decline as it has been serving as a strong backstop since the beginning of May. BTC/USD daily chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Ethereum Price Analysis: ETH/USD settles above daily SMA50 FX Street 2 years BTC/USD has been trading in a tight range since the beginning of the week. The critical support is created by psychological barrier $9,000. BTC/USD is changing hands at $9,150, mostly unchanged both on a day-to-day basis and since the beginning of Tuesday. The first digital coin has been locked in a tight range since the start of the week as growth attempts are limited by $9,200, while the dips below $9,000 are heavily bought. The market capitalization of the first digital asset settled at $167 billion, while its market share is registered at 64.9%. BTC/USD: Technical picture Despite the recovery… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.