Hello, welcome to this BITCOIN /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Bitcoin ( BTC ) was once again trading below $28,000, as traders consolidated recent gains ahead of the upcoming FOMC meeting.
Following a high of $28,352.76 to start the week, BTC/USD fell to an intraday low of $27,439.65 earlier today.
The move sees bitcoin move away from its recent nine-month high, ahead of tomorrow’s rate decision, which will likely lead to increased market volatility.
One sign of this uncertainty comes as the 14-day relative strength index (RSI), which failed to move beyond a ceiling of its own.
As of writing, the index is tracking at 71.47, which is marginally below a resistance level of 72.00.
BTC has since risen back above $28,000 however, with price swings likely to persist throughout the course of the day.
I have tried to bring the best possible outcome to this chart.
Hit the like button if you like it and share your charts in the comments section.
Thank you.
CHART ANALYSIS:-Bitcoin ( BTC ) was once again trading below $28,000, as traders consolidated recent gains ahead of the upcoming FOMC meeting.
Following a high of $28,352.76 to start the week, BTC/USD fell to an intraday low of $27,439.65 earlier today.
The move sees bitcoin move away from its recent nine-month high, ahead of tomorrow’s rate decision, which will likely lead to increased market volatility.
One sign of this uncertainty comes as the 14-day relative strength index (RSI), which failed to move beyond a ceiling of its own.
As of writing, the index is tracking at 71.47, which is marginally below a resistance level of 72.00.
BTC has since risen back above $28,000 however, with price swings likely to persist throughout the course of the day.
I have tried to bring the best possible outcome to this chart.
Hit the like button if you like it and share your charts in the comments section.
Thank you.
