TRENDING:

GBP/USD

XAU/USD

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

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.

Rajarshi Mitra Independent Analyst

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

BTC/USD

Overview
Today last price	9432.52
Today Daily Change	-24.77
Today Daily Change %	-0.26
Today daily open	9457.29

Trends
Daily SMA20	9610.08
Daily SMA50	9360.93
Daily SMA100	8023.51
Daily SMA200	8219.72

Levels
Previous Daily High	9559.97
Previous Daily Low	9231.26
Previous Weekly High	10007.88
Previous Weekly Low	9072.17
Previous Monthly High	10074.48
Previous Monthly Low	8105.58
Daily Fibonacci 38.2%	9356.83
Daily Fibonacci 61.8%	9434.41
Daily Pivot Point S1	9272.38
Daily Pivot Point S2	9087.47
Daily Pivot Point S3	8943.67
Daily Pivot Point R1	9601.09
Daily Pivot Point R2	9744.89
Daily Pivot Point R3	9929.8

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.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

Solana Price Forecast: SOL consolidates as spot ETF inflows near $1 billion signal institutional dip-buying

Solana (SOL) price hovers above $131 at the time of writing on Monday, nearing the upper boundary of a falling wedge pattern, awaiting a decisive breakout.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH and XRP face pressure near key technical barriers

Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) hover around key levels on Monday after correcting slightly in the previous week. The top three cryptocurrencies by market capitalization could face increased downside risk as bearish momentum builds across key indicators.

Top Crypto Losers: DASH, SPX, PENGU – Privacy and meme coins lose ground

Altcoins, including Dash (DASH), SPX6900 (SPX), and Pudgy Penguins (PENGU), are leading losses as the broader cryptocurrency market remains cautious ahead of the macroeconomic data releases, such as the US Nonfarm payroll report, CPI data, and the Bank of Japan’s rate-hike decision.

Top 3 Price Prediction: BTC and ETH eyes breakout, XRP steadies at support

Bitcoin (BTC) and Ethereum (ETH) are nearing the key resistance levels at the time of writing on Friday, and a successful breakout could open the door for a fresh rally. Meanwhile, Ripple (XRP) is stabilizing around a crucial support zone, hinting at a potential rebound if buyers maintain control.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.