Hello, welcome to this BTC /USDT 1DAY chart update by CRYPTOSANDERS.
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CHART ANALYSIS:-Bitcoin (BTC) mostly consolidated on Thursday, following news that the U.S. Federal Reserve could be set to move away from its aggressive rate hike policy.
Wednesday’s FOMC minutes showed that “A substantial majority of participants judged that a slowing in the pace of increase would likely soon be appropriate.”
The news comes as inflation in the United States begins to slow down, following several back-to-back rate hikes.
Following a move to an intraday high of $16,771.48 on Wednesday, BTC/USD is trading at $16,544.58 as of writing.
Looking at the chart, this comes as the 14-day relative strength index (RSI) failed to break out of a ceiling at 40.35.
Currently, the index is trading at the 39.90 level, with momentum now moving towards a downtrend, and in particular to a floor of 38.00.
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.
Show some support, hit the like button, and follow and comment in the comment section. this motivates me to bring this kind of chart analysis on a regular basis.
CHART ANALYSIS:-Bitcoin (BTC) mostly consolidated on Thursday, following news that the U.S. Federal Reserve could be set to move away from its aggressive rate hike policy.
Wednesday’s FOMC minutes showed that “A substantial majority of participants judged that a slowing in the pace of increase would likely soon be appropriate.”
The news comes as inflation in the United States begins to slow down, following several back-to-back rate hikes.
Following a move to an intraday high of $16,771.48 on Wednesday, BTC/USD is trading at $16,544.58 as of writing.
Looking at the chart, this comes as the 14-day relative strength index (RSI) failed to break out of a ceiling at 40.35.
Currently, the index is trading at the 39.90 level, with momentum now moving towards a downtrend, and in particular to a floor of 38.00.
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
