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18 August 2022
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Bitcoin Price Forecast: BTC/USD bears cancel out Monday’s gains as market comes to a close


  • BTC/USD bears entered the market after two straight bullish days.
  • The Elliott Oscillator has plummetted from -14 to -362.27 over the last seven days.

BTC/USD daily chart

btc/usd daily chart

BTC/USD  has dropped from $9,187.71 to $9,129.30 this Tuesday, following two consecutive bullish days. The price is currently moving in the lower half of the 20-day Bollinger Band. The RSI has been trending in the neutral zone for a long time. Finally, the Elliott Oscillator has plummetted from -14 to -362.27 over the last seven days.

Support and Resistance

BTC/USD has strong resistance at $9,295.65, $9,334.70 (SMA 20), $9,424.50 (SMA 50) and $9,475.25. On the downside, the bears will want to aim for the support levels at $9,125 and $9,006.80 (lower curve of the 20-day Bollinger Band) to continue the downward movement.

Key levels

BTC/USD

OVERVIEW
Today last price 9130.23
Today Daily Change -55.46
Today Daily Change % -0.60
Today daily open 9185.69
TRENDS
Daily SMA20 9373.03
Daily SMA50 9407.54
Daily SMA100 8428.06
Daily SMA200 8337.24
LEVELS
Previous Daily High 9234.4
Previous Daily Low 9017.07
Previous Weekly High 9786.22
Previous Weekly Low 8988.56
Previous Monthly High 10074.48
Previous Monthly Low 8105.58
Daily Fibonacci 38.2% 9151.38
Daily Fibonacci 61.8% 9100.09
Daily Pivot Point S1 9057.04
Daily Pivot Point S2 8928.4
Daily Pivot Point S3 8839.72
Daily Pivot Point R1 9274.37
Daily Pivot Point R2 9363.05
Daily Pivot Point R3 9491.7

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