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Bitcoin Technical Analysis: BTC/USD freefall continues as bears retain control for the third straight day

FX Street
Published date:
  • BTC/USD bears aim to take price below the $9,100 psychological level.
  • The Elliott Oscillator has had three straight red sessions, indicating that overall market sentiment is bearish.

BTC/USD daily chart

BTC/USD daily chart

BTC/USD bears stayed in control of the market for the third straight day. BTC/USD has so far gone down from $9,131.30 to $9,118.40 this Friday. The bears will target the $9,100 psychological level, next. The Elliott Oscillator has had three straight bearish sessions, while the RSI is hovering around the neutral zone.

Support and Resistance

BTC/USD has strong resistance levels at $9,200 (SMA 20), $9,246.25, $9,389.35 (SMA 50) and $9,430. On the downside, healthy support exists at $9,070.56 and $9,021.75.

Key levels

 

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