BTC/USD 1DAY UPDATE BY CRYPTO SANDERS
Updated
Hello, welcome to this BTC /USD 1DAY chart update by CRYPTOSANDERS.
I have tried to bring the best possible outcome to this chart.
CHART ANALYSIS:- Bitcoin (BTC) mostly consolidated on Thursday, as the price failed to break out of the critical level of $17,000 yesterday.
Following a high of $16,964.59 on hump day, BTC/USD slipped to an intraday low of $16,789.75 earlier in the session.
The drop comes as markets reacted to the latest FOMC minutes, where the Fed has seemingly agreed to maintain interest rate hikes.
This comes as the bank expects a more aggressive rise in inflation, forecasting consumer prices to be at 3.5% in 2023, higher than the 3.1% previously expected.
Looking at the chart, the decline in price also comes as the 14-day relative strength index (RSI) moved below a resistance zone of 51.00.
As of writing, the index is now tracking at 49.14 and seems to be moving toward a support level of 46.00.
This is not a piece of financial advice.
Hit the like button if you like it and share your charts in the comments section.
Thank you
I have tried to bring the best possible outcome to this chart.
CHART ANALYSIS:- Bitcoin (BTC) mostly consolidated on Thursday, as the price failed to break out of the critical level of $17,000 yesterday.
Following a high of $16,964.59 on hump day, BTC/USD slipped to an intraday low of $16,789.75 earlier in the session.
The drop comes as markets reacted to the latest FOMC minutes, where the Fed has seemingly agreed to maintain interest rate hikes.
This comes as the bank expects a more aggressive rise in inflation, forecasting consumer prices to be at 3.5% in 2023, higher than the 3.1% previously expected.
Looking at the chart, the decline in price also comes as the 14-day relative strength index (RSI) moved below a resistance zone of 51.00.
As of writing, the index is now tracking at 49.14 and seems to be moving toward a support level of 46.00.
This is not a piece of financial advice.
Hit the like button if you like it and share your charts in the comments section.
Thank you
Trade active
CHART ANALYSIS:- Bitcoin BTC) continued to hover slightly under the $17,000 level on Friday, as markets consolidated ahead of the latest U.S. nonfarm payrolls (NFP).Today’s report is expected to show an addition of 200,000 jobs to the economy, lower than the previous figure for November which came in at 263,000.
Ahead of the data release, BTC/USD fell to a low of $16,738.90 in today’s session, moving below a key support level of $16,800 in the process.
Looking at the chart, today’s decline comes as the 14-day relative strength index (RSI) continues to slip, after failing to break out of a ceiling at 51.00.
As of writing, the index is tracking at 47.24 and seems to be heading toward a support point of 43.00.
Momentum could still shift, should a stronger than-expected NFP number get released, which could prompt the 10-day (red) moving average to move closer towards its 25-day (blue) counterpart.
This is not a piece of financial advice.
Hit the like button if you like it and share your charts in the comments section.
Thank you
Trade active
CHART ANALYSIS:- Bitcoin (BTC) moved closer to the $17,000 level on Saturday, as traders continued to react to the latest U.S. nonfarm payrolls (NFP).
Last month’s NFP numbers came in at 223,000, which is 23,000 higher than expected, and this was in a month where the Federal Reserve increased interest rates by less than in previous months.
In response to this, BTC/USD surged to a peak of $16,991.99 to start the weekend, hovering close to a three-week high in the process.
As can be seen from the chart, today’s rally came as the 10-day (red) moving average closed in on a crossover with its 25-day (blue) counterpart.
This, as the 14-day relative strength index (RSI) also rallied, climbing above a key resistance point at 50.00
Currently, the index is tracking at 52.24, with the next visible ceiling at the 55.00 mark, which is likely where bulls are targeting.
This is not a piece of financial advice.
Hit the like button if you like it and share your charts in the comments section.
Thank you
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.