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) moved above the $17,000 level to start the week, as markets shifted their focus to this week’s U.S. inflation report.
Following a low of $16,928.18 on Sunday, BTC/USD surged to a peak of $17,283.72 earlier in today’s session.
The move saw BTC climb to its highest point since December 16, when price was at a high of $17,525.
Looking at the chart, today’s high came as the 10-day (red) moving average finally crossed over its 25-day (blue) counterpart.
In addition, the 14-day relative strength index (RSI) marginally moved past its current resistance level of 60.00.
As of writing, the index is tracking at 60.46, with the following visible ceiling at the 63.00 zone.
This is not a piece of financial advice.
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I have tried to bring the best possible outcome to this chart.
CHART ANALYSIS:- Bitcoin(BTC) moved above the $17,000 level to start the week, as markets shifted their focus to this week’s U.S. inflation report.
Following a low of $16,928.18 on Sunday, BTC/USD surged to a peak of $17,283.72 earlier in today’s session.
The move saw BTC climb to its highest point since December 16, when price was at a high of $17,525.
Looking at the chart, today’s high came as the 10-day (red) moving average finally crossed over its 25-day (blue) counterpart.
In addition, the 14-day relative strength index (RSI) marginally moved past its current resistance level of 60.00.
As of writing, the index is tracking at 60.46, with the following visible ceiling at the 63.00 zone.
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
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CHART ANALYSIS:- Bitcoin (BTC) continued to trade close to the $17,200 level in today’s session, as traders moved to secure Monday’s gains.
Following a low of $17,162.99 to start the week, BTC/USD hit a high of $17,389.96 earlier in the day.
However, earlier gains have since diminished, with the world’s largest cryptocurrency currently trading at $17,271.27.
Looking at the chart, today’s price consolidation came as the 14-day relative strength index (RSI) continued to hover close to a key resistance at the 60.00 mark.
Despite the index currently tracking above this point at 60.89, price uncertainty has heightened, leading to previous bulls abandoning positions.
Traders may once again attempt to move beyond a price ceiling of $17,400, however, this may come later in the week following the release of U.S. inflation data.
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
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