BTC/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this BITCOIN /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Bitcoin ( BTC ) rose back above $20,000 on Saturday, despite overall volatility in financial markets being at historic highs.
This comes as the Federal Deposit Insurance Corporation (FDIC) confirmed it was shutting down Silicon Valley Bank.
Despite this, BTC/USD raced to an intraday high of $20,792.53, less than 24 hours after trading at a low of $19,628.25.
Overall, today’s marginal rally in price comes as the 14-day relative strength index (RSI) found a floor at the 27.00 level.
At the time of writing, the index is tracking at 28.46, with bitcoin at $20,279.45, as earlier gains have eased.
Market volatility will likely remain higher in the coming days, leading to bitcoin moving above and below $20,000 throughout the weekend.
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