Hello friends, welcome to this BITCOIN update from Crypto Sanders.
Chart Analysis:- Bitcoin (BTC) slipped for a second straight session on Monday, with traders retreating from high-risk assets, as tensions in the Middle East escalated.
Following a peak of 27,999.55 on Sunday, BTC/USD dropped to an intraday low of 27,445.89 earlier in the day.
bitcoin has been edging lower since Friday after bulls failed to orchestrate a break out above a ceiling at 28,300.
it now appears that momentum has shifted bearish, with bitcoin heading for a support point at 27,000.
The 14-day relative strength index (RSI) has also been on the decline, moving away from its resistance of 60.00, and is now tracking at 54.35
A target of 45.00 on the RSI will likely need to be hit if bears are to push BTC below the 27,000 level in the coming days.
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