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.
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.