@Paius_17 26 May 2020 more from that month

Bitcoin Price Analysis

**BTC/USD struggle to secure $9,000 support** **continues** https://www.fxstreet.com/cryptocurrencies/news/bitcoin-price-analysis-btc-usd-struggle-to-secure-9-000-support-continues-202005260431 **Bitcoin bulls are having a hard time holding the price above $8,900 in their push for gains past $9,000.** **BTC/USD could be grinding into consolidation according to the trends of the RSI and the MACD indicators.** Bitcoin’s recovery from the recent dip to $8,600 is struggling to sustain gains above $8,900. Standing in the way of upward movement is the 50 SMA as well as the key descending trendline **resistance**. It is essential that buyers focus on breaking the resistance at $9,000 because the longer the hurdle stays in place, the stronger the sellers become. Technical indicators such as the RSI and the MACD point towards a slightly bullish momentum. The RSI is gradually recovering towards 60 while the MACD is almost crossing into the positive territory. If gains above $9,000 become unsustainable, the least the buyers can do is to hold the price above $8,900 according to possible sideways action with both the RSI and the MACD. On the other hand, sliding under $8,900 short term support could pave the way for more losses targeting the recent support at $8,600. The region between $8,800 and $8,600 hosts many buyers, likely to be waiting to buy low in anticipation of Bitcoin price surge above $9,000. On the upside, besides the hurdle at $9,000, Bitcoin will face more selling pressure at the descending trendline, the 200 SMA in the hourly range, and $9,200. Investors are still hoping to see BTC/USD above $10,000 in the coming few weeks.