Hello, 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) edged closer to the $17,000 level on Tuesday, as traders turned their attention to Wednesday’s FOMC minutes report.
BTC/USD hit a high of $16,760.45 earlier in today’s session, which comes less than 24 hours after trading at a low of $16,666.92.
Today’s activity saw bitcoin near a breakout of a long-term resistance level of $16,800, as market volatility remains high following the New Year’s celebration.
As can be seen from the chart, Tuesday’s move comes as the 14-day relative strength index (RSI) approached a resistance level of its own.
Currently, the index is tracking at 47.18, which is marginally below its point of resistance at the 48.00 mark.
This ceiling seems to be the main hurdle stopping price from extending gains and moving above the $17,000 zone.
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
I have tried to bring the best possible outcome to this chart.
CHART ANALYSIS:- Bitcoin (BTC) edged closer to the $17,000 level on Tuesday, as traders turned their attention to Wednesday’s FOMC minutes report.
BTC/USD hit a high of $16,760.45 earlier in today’s session, which comes less than 24 hours after trading at a low of $16,666.92.
Today’s activity saw bitcoin near a breakout of a long-term resistance level of $16,800, as market volatility remains high following the New Year’s celebration.
As can be seen from the chart, Tuesday’s move comes as the 14-day relative strength index (RSI) approached a resistance level of its own.
Currently, the index is tracking at 47.18, which is marginally below its point of resistance at the 48.00 mark.
This ceiling seems to be the main hurdle stopping price from extending gains and moving above the $17,000 zone.
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
