Description
⋅ Hello, welcome to this BITCOIN /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Bitcoin ( BTC ) rebounded from Monday’s lows in today’s session, with prices racing back above the $23,000 level.
Following a low of $22,692.03 to start the week, BTC/USD raced to an intraday high of $23,119.28 earlier in the day.
The move comes as bitcoin bulls rejected a move towards a long-term support point at $22,500, and instead bought the dip.
Looking at the chart, today’s rebound sees BTC snap a five-day losing streak, which came following a six-month high last Thursday.
Tuesday’s reversal also coincided with the 14-day relative strength index (RSI) bouncing from a floor of its own at 60.00.
As of writing, the index is tracking at 62.04 and seems to be on course to collide with a ceiling of 68.00.
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