Hello friends, welcome to this BITCOIN update from Crypto Sanders.
Chart Analysis:- Bitcoin (BTC) bulls consolidated recent gains on Wednesday, as traders appeared to be capturing profits following recent highs.
BTC/USD edged to a low of 28,172.91 earlier in today’s session, which comes a day after a high of 28,889.01.
Today’s price consolidation comes after the world’s largest cryptocurrency rose to as high as 30,000 earlier in the week.
the decline comes as the 14-day relative strength index (RSI) maintains its position marginally above a floor at the 62.00 level.
the index is tracking at a reading of 62.28, after a failed breakout from a resistance of 65.00 on Monday.
Price may continue to consolidate until either the aforementioned floor or ceiling is broken.
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