BTC/USDT 4HOUR UPDATEHello, welcome to this BTC /USDT 4hr chart update by CRYPTOSANDERS.
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CHART ANALYSIS:-Bitcoin (BTC) prices rebounded on Friday, as markets began to prepare for the release of October’s nonfarm payrolls report.
The jobs day report is expected to show that 200,000 jobs were added to the U.S. economy last month, lower than September’s figure of 263,000.
BTC/USD rallied to a peak of $20,642.81 ahead of the report, moving away from Thursday’s low of $20,086.24 in the process.
Today’s surge sees the world’s largest token move towards a ceiling of $20,800, which was the last hit on October 30.
Since last week’s failed breakout, BTC mostly traded lower in the days that followed, with today’s rally one of the few days bullish momentum has trumped downward sentiment.
As of writing, the relative strength index (RSI) is tracking at 58.57, which is marginally below a ceiling of 59.00.
In order to reach $20,800 and above, this resistance will first need to be broken.
This is not a piece of financial advice.
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