Bitcoin Price Analysis: BTC/USD stays flat above $9,000
- 27th June 2020
- Posted by: Hakeem
- Category: FOREX LATEST NEWS DAILY, TECHNICAL ANALYSIS
- 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.
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).
|Today last price||9161.59|
|Today Daily Change||6.44|
|Today Daily Change %||0.07|
|Today daily open||9155.15|
|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|