Bitcoin Price Forecast: BTC/USD bears take control as markets opened this Saturday

BTC/USD bears take control after a bullish Friday.
Elliott Oscillator has had a red session following six straight green sessions.
The RSI is hovering around the neutral zone.

Rajarshi Mitra Independent Analyst

BTC/USD daily chart

BTC/USD bears took control in the early hours of Saturday as the price fell from $9,289.40 to $9,275.25. The RSI is still hovering around the neutral zone, so further price drop could be expected. The Elliott Oscillator has had a red session, following six consecutive green sessions, wherein it went up from -283 to -38.58.

Support and Resistance

BTC/USD has strong resistance levels at $9,350, $9,378.75 (SMA 50) and $9,443.25. On the downside, the price has healthy support levels at $9,246.15 (SMA 20), $9,235.45 and $9,135.

Key levels

BTC/USD

Overview
Today last price	9276.24
Today Daily Change	-11.54
Today Daily Change %	-0.12
Today daily open	9287.78

Trends
Daily SMA20	9244.63
Daily SMA50	9374.57
Daily SMA100	8735.87
Daily SMA200	8451.18

Levels
Previous Daily High	9318.83
Previous Daily Low	9117.95
Previous Weekly High	9475.54
Previous Weekly Low	8907.51
Previous Monthly High	10404.88
Previous Monthly Low	8823.34
Daily Fibonacci 38.2%	9242.09
Daily Fibonacci 61.8%	9194.69
Daily Pivot Point S1	9164.22
Daily Pivot Point S2	9040.65
Daily Pivot Point S3	8963.34
Daily Pivot Point R1	9365.09
Daily Pivot Point R2	9442.39
Daily Pivot Point R3	9565.96

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.