Hello, welcome to this BITCOIN /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Bitcoin ( BTC ) started the week falling to a seven-day low, as market sentiment began to shift downwards.
BTC/USD has now fallen lower for five straight sessions, with today’s decline taking prices to a bottom of $22,734.48.
This drop saw bitcoin hit its weakest point since January 30, when prices were trading at a floor of $22,500.
Looking at the chart, the world’s largest cryptocurrency appears to be heading toward this point of support again.
Recent declines in BTC have come as the 14-day relative strength index (RSI) broke out of a floor at 68.00. It is now tracking at 61.15.
This is the lowest reading for the index in nearly a month and comes following an extended streak in overbought territory.
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