Bitcoin Price Analysis: BTC/USD stays flat above $9,000

  • Bitcoin steadies above $9,000 following a four-day slump.
  • Near-term bearish outlook remains intact with RSI staying below 50.

After gaining more than 4% and closing in on $10,000, Bitcoin (BTC/USD) lost its traction and closed the last four trading days in the negative territory. The pair lost nearly 6% during that period but seems to have found near $9,000. As of writing, Bitcoin was virtually unchanged on a daily basis at $9,150.

Technical outlook

Bitcoin closed the third straight day below both the 20-day and the 50-day SMAs on Friday, suggesting that sellers remain in control of the price action. Additionally, the Relative Strength Indicator on the daily chart dropped below 50 to confirm the near-term bearish outlook.

On the downside, $9,000 area (psychological level/Fibonacci 23.6% retracement of March-June rally) aligns as a critical support level ahead of $8,600 (static level) and $8,400 (100-day SMA).

Resistances could be seen at $9,400 (20-day SMA/50-day SMA), $,9,780 (June 22 high) and $10,000 (psychological level).

Additional technical levels to watch for

BTC/USD

OVERVIEW
Today last price 9161.59
Today Daily Change 6.44
Today Daily Change % 0.07
Today daily open 9155.15
TRENDS
Daily SMA20 9473.41
Daily SMA50 9422.93
Daily SMA100 8340.89
Daily SMA200 8308.76
LEVELS
Previous Daily High 9289.32
Previous Daily Low 9028.54
Previous Weekly High 9786.22
Previous Weekly Low 8988.56
Previous Monthly High 10074.48
Previous Monthly Low 8105.58
Daily Fibonacci 38.2% 9128.15
Daily Fibonacci 61.8% 9189.7
Daily Pivot Point S1 9026.02
Daily Pivot Point S2 8896.89
Daily Pivot Point S3 8765.24
Daily Pivot Point R1 9286.8
Daily Pivot Point R2 9418.45
Daily Pivot Point R3 9547.58

 



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