hello, welcome to this BTC/USDT update by CRYPTO SANDERS.
CHART ANALYSIS:- Bitcoin (BTC) continued to hover near the 29,000 level to start the week, as market volatility was mostly muted on Monday.
After Sunday’s low at 28,963.83, BTC/USD jumped to a high of 29,166.82 earlier in today’s session.
The world’s largest cryptocurrency has mostly been trading between a support level of 28,800 and a resistance of $29,500 for the majority of the last week. the relative strength index (RSI) is also tracking near a floor of its own around the 42.00 mark.
In addition to this, the 10-day (red) moving average has begun to flatline following a downtrend, which is a sign of price stagnation.
Consolidation could likely continue until Wednesday’s inflation report in the United States.
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