Home Bitcoin Price Forecast: BTC/USD trends in a narrow channel between SMA 20 and SMA 50
Crypto News

Bitcoin Price Forecast: BTC/USD trends in a narrow channel between SMA 20 and SMA 50

FX Street
Published date:
  • BTC/USD bears have retained control in the early hours of Thursday.
  • The Elliott Oscillator has had a red session following two straight green sessions.
  • The RSI indicator has been trending in the neutral zone over the last eight days. 

BTC/USD daily chart

BTC/USD daily chart

BTC/USD has dropped from $9,457.68 to $9,432 in the early hours of Thursday. The price is sandwiched between SMA 20 and SMA 50 and has found resistance at the downward trending line. The Elliott Oscillator has had a red session, following two straight green sessions. The RSI indicator is trending at the neutral zone as the bulls and bears have effectively canceled each other out.

Support and Resistance

BTC/USD has found resistance at $9,523.15, SMA 20 and $9,700. On the downside, healthy support lies at SMA 50, $9,280.65 and $9,067.55.

Key levels

 

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.

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision.  The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.

© forexcrunch.com All Rights Reserved 2017 – 2026