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) remained near a one-week low on Thursday, as cryptocurrencies continued to trade in the red.
BTC/USD slipped to a bottom of $16,750.56 earlier in the day, less than 24 hours after trading at a high of $17,061.48.
The move saw the world’s largest cryptocurrency move closer to a recent support point of $16,700.
After failing to break out of a ceiling at the 50.00 level earlier in the week, the 14-day relative strength index (RSI) is now tracking at 45.50.
Should price strength continue to plummet, the next visible point of support seems to be at the 43.00 mark.
Bears in the market will be hoping that this floor is not only hit but broken, which could trigger a move below $16,000.
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) remained near a one-week low on Thursday, as cryptocurrencies continued to trade in the red.
BTC/USD slipped to a bottom of $16,750.56 earlier in the day, less than 24 hours after trading at a high of $17,061.48.
The move saw the world’s largest cryptocurrency move closer to a recent support point of $16,700.
After failing to break out of a ceiling at the 50.00 level earlier in the week, the 14-day relative strength index (RSI) is now tracking at 45.50.
Should price strength continue to plummet, the next visible point of support seems to be at the 43.00 mark.
Bears in the market will be hoping that this floor is not only hit but broken, which could trigger a move below $16,000.
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
