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⋅ Hello, welcome to this BITCOIN /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Bitcoin ( BTC ) was back above $28,000 on Friday, as fears of further banking collapses pushed traders towards cryptocurrencies.
Following a low of $27,359.25 on Thursday, BTC/USD raced to an intraday peak of $28,729.84 earlier in today’s session.
The move came as the cost of insuring against a bank default spiked, leading to a resurgence of market uncertainty.
Overall, BTC has since slipped from earlier highs. However, prices are still higher than Thursday’s bottom.
As of writing, bitcoin is trading at $27,658.96, which comes as the relative strength index (RSI) dropped below a key floor at 65.00.
Currently, the index is tracking at 64.15, with the next visible point of support at the 60.00 mark.
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