Bitcoin Chart Analysis: BTC/USD remains stagnant between $9,400 and $9,500
- Bitcoin hasn’t seen a lot of action as the entire market is flat.
- Bulls managed to hold the daily 26-EMA but it could be broken on June 18.
Another decent bullish reversal candlestick was formed on June 17. Unfortunately, Bitcoin hasn’t seen any notable continuation after two of them. Bulls need to hold the daily 26-EMA and encounter a resistance level at the 12-EMA at $9,499.
BTC/USD daily chart
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The daily chart remains in a downtrend. However, the bears haven’t seen a lot of action either. The RSI is almost oversold and could help the bulls in the short term. The MACD is still bearish but any decent move to the upside can change the indicator quickly.
There is a lot of support at the $9,231, the low on June 17 and $8,899, the daily low. Buyers can find more support at $8,637 and $8,105, the low of May 10. Besides the daily EMAs, bulls are facing a tough resistance level at $10,000.
BTC/USD technical levels
Author
Lorenzo Stroe
Independent Analyst
Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.
