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BTC/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this BITCOIN /USD update by CRYPTO SANDERS. CHART ANALYSIS:-Bitcoin ( BTC ) dropped below $28,000 on Thursday, as markets continued to react to the latest Federal Reserve rate hike. The Fed moved to increase rates by 25 basis points, whilst signaling that no cuts will be made this year. BTC/USD fell to an intraday low of $26,760.00 on the news, which comes a day after trading at a peak of $28,803.34. From the chart, the decline appears to have come as a result of the relative strength index (RSI) failing to break out of a ceiling at 72.00. As of writing, the index is tracking at 66.54, with the next visible point of support at the 62.00 mark. Overall, prices are still relatively overbought, which could lead to further bears reentering the market in the coming days. I have tried to bring the best possible outcome to this chart. Hit the like button if you like it and share your charts in the comments section. Thank you.
BITSTAMP:BTCUSD
by CryptoSanders9563
BTC/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this BITCOIN /USD update by CRYPTO SANDERS. CHART ANALYSIS:-Bitcoin ( BTC ) closed in on a fresh nine-month high in today’s session, as markets continued to anticipate today’s Federal Reserve rate decision. Following a low of $27,785.11 on Tuesday, BTC/USD surged to an intraday peak of $28,439.56 earlier today. The move sees bitcoin move back towards a recent nine-month high, recorded earlier in the week. This latest surge in price comes as the 14-day relative strength index (RSI) attempted to break out of a ceiling at 72.00 As of writing, the index is tracking at 71.70, which is its highest reading since early February, and deep in overbought territory. Traders are likely waiting for this afternoon’s announcement prior to attempting to move beyond this point. I have tried to bring the best possible outcome to this chart. Hit the like button if you like it and share your charts in the comments section. Thank you.
BITSTAMP:BTCUSD
by CryptoSanders9563
"Bitcoin Breaks Out of Falling Wedge Pattern: Nearing 33,000" Bitcoin, the world's leading cryptocurrency, has been on a wild ride lately. After reaching all-time highs in late 2021, it experienced a sharp correction, causing many to speculate on whether the bullish trend was over. However, recent market movements have provided some hope for Bitcoin bulls, as the cryptocurrency has broken out of a falling wedge and is now attempting to retrace to the 618 level at around $33,000. A falling wedge is a chart pattern that occurs when the price of an asset is making lower highs and lower lows within a tightening range. This pattern is often a sign of a bearish trend, but if the asset breaks out of the wedge pattern, it could be a signal that the trend is reversing. Bitcoin's recent breakout from the falling wedge pattern has been a positive sign for traders, indicating a potential reversal of the bearish trend. The 618 level, also known as the golden ratio or Fibonacci retracement level, is a significant level of resistance for Bitcoin. This level has been visible for the past two years as an area of interest for traders. If Bitcoin is able to break through this level, it could signal a significant shift in market sentiment and lead to a rally towards new all-time highs. However, if Bitcoin fails to break through this level, we could see a significant sell-off as traders take profits and exit their positions. It's important to note that technical analysis is not always a reliable indicator of market movements. Market sentiment and external factors such as regulatory changes, geopolitical events, and the overall state of the global economy can all have a significant impact on the price of Bitcoin. Therefore, it's important to keep a close eye on these factors when analyzing the cryptocurrency markets. In conclusion, Bitcoin's recent breakout from the falling wedge pattern and attempt to retrace to the 618 level at around $33,000 is a positive sign for traders. However, it remains to be seen whether Bitcoin will be able to break through this level and continue its bullish trend. Traders should approach the market with caution and keep a close eye on market sentiment and external factors that could impact the price of Bitcoin.
COINBASE:BTCUSDLong
by ChartFood
1
BTC/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this BITCOIN /USD update by CRYPTO SANDERS. CHART ANALYSIS:-Bitcoin ( BTC ) was once again trading below $28,000, as traders consolidated recent gains ahead of the upcoming FOMC meeting. Following a high of $28,352.76 to start the week, BTC/USD fell to an intraday low of $27,439.65 earlier today. The move sees bitcoin move away from its recent nine-month high, ahead of tomorrow’s rate decision, which will likely lead to increased market volatility. One sign of this uncertainty comes as the 14-day relative strength index (RSI), which failed to move beyond a ceiling of its own. As of writing, the index is tracking at 71.47, which is marginally below a resistance level of 72.00. BTC has since risen back above $28,000 however, with price swings likely to persist throughout the course of the day. I have tried to bring the best possible outcome to this chart. Hit the like button if you like it and share your charts in the comments section. Thank you.
BITSTAMP:BTCUSD
by CryptoSanders9563
BTC/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this BITCOIN /USD update by CRYPTO SANDERS. CHART ANALYSIS:-Bitcoin ( BTC ) started the week trading above $28,000, as markets responded to the deepening global banking crisis. The coordinated action by several major G7 central banks comes as Credit Suisse was bought out by rival UBS, a move engineered by Swiss authorities. BTC/USD jumped to an intraday peak of $28,527.72 earlier today, which comes a day after trading at a low of $27,196.76. As a result of the rally, bitcoin climbed to its strongest point since last June, with many now anticipating a move above $30,000. Overall, this surge has sent prices into overbought territory, with the 14-day relative strength index (RSI) now tracking at 72.73. The next visible point of resistance appears to be at 75.00, and should this be hit, there is a strong chance BTC will be at $30,000. I have tried to bring the best possible outcome to this chart. Hit the like button if you like it and share your charts in the comments section. Thank you.
BITSTAMP:BTCUSD
by CryptoSanders9563