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

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.

Rajarshi Mitra Independent Analyst

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

BTC/USD

Overview
Today last price	9116.25
Today Daily Change	-15.00
Today Daily Change %	-0.16
Today daily open	9131.25

Trends
Daily SMA20	9198.32
Daily SMA50	9401.23
Daily SMA100	8871.97
Daily SMA200	8510.08

Levels
Previous Daily High	9214.27
Previous Daily Low	9020.75
Previous Weekly High	9475.54
Previous Weekly Low	8907.51
Previous Monthly High	10404.88
Previous Monthly Low	8823.34
Daily Fibonacci 38.2%	9094.67
Daily Fibonacci 61.8%	9140.35
Daily Pivot Point S1	9029.9
Daily Pivot Point S2	8928.56
Daily Pivot Point S3	8836.38
Daily Pivot Point R1	9223.43
Daily Pivot Point R2	9315.62
Daily Pivot Point R3	9416.96

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.

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