Home Bitcoin Price Analysis: BTC/USD bulls in control as they retreat from the upper curve of the 20-day Bollinger Band
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Bitcoin Price Analysis: BTC/USD bulls in control as they retreat from the upper curve of the 20-day Bollinger Band

FX Street
Published date:
  • BTC/USD jumped above the SMA 20 and SMA 50 curves as bulls took control this Tuesday.
  • The bulls lost momentum and retreated from the $9,400–level. 

BTC/USD daily chart

BTC/USD daily chart

BTC/USD bulls took full control of the market this Tuesday as the price flew from $9,162.22 to $9,383.75. In the process, the price jumped above the downward trending line, SMA 20 and SMA 50. The price reached an intra-day high of $9,438.85, but it was unable to garner enough momentum to cross above the 20-day Bollinger Band. Since then, it dropped back below the $9,400-level.

Support and Resistance

BTC/USD has strong resistance levels at $9,428.13 and $9.530.75.  On the downside, there are healthy support levels at $9,354.80 (SMA 50), $9,310.85, $9,219.20 (SMA 20) and $9,138.55.

Key levels

 

FX Street

FX Street

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