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BTC/USD 1DAY UPDATE BY CRYPTO SANDERSHello, welcome to this BTC /USD 1DAY chart update by CRYPTOSANDERS. I have tried to bring the best possible outcome to this chart. CHART ANALYSIS:-Bitcoin ( BTC )continued to consolidate ahead of this afternoon’s third quarter GDP data from the United States. This afternoon’s figures are expected to show growth of 2.9% in the quarter, as inflation in the U.S. began to slow down. BTC/USD hit a high of $16,895.71 ahead of the data release, which is marginally higher than Wednesday’s bottom at $16,755.91. Looking at the chart, today’s consolidation comes as the 14-day relative strength index (RSI) continued to hover near a support point at 46.00. As of writing, the index is tracking at the 46.49 level and could be set to break out of this point at any moment. Should this occur, bearish sentiment will likely return to the market, with prices heading toward $16,500. This is not a piece of financial advice. Hit the like button if you like it and share your charts in the comments section. Thank you
BITSTAMP:BTCUSD
by CryptoSanders9563
1
BTC How further events will develop)🖐 Hello everyone. All the same, there was a price movement that we were waiting for. But this exit turned out to be false, because at the stops of shortists and liquidations, someone fixed a large long or gained shorts. This was visible on the chart on small timeframes and on the glass, as someone pressed the price down by volume and did not allow it to go beyond the maximum. After that, they began to form accumulation under the previous support level and, as a result, saw a decline. 🔍The current formation indicates a further price increase. It is interesting to observe the price zone, where we saw a growth stop earlier. There are enough factors that speak of continued growth) I think it will be like this, they will collect liquidity in a limit offer and then aggressively buy on the market. I also found a good example) Where you can see how further events will develop)
Long
by CHOWTRADE
2