Hello, welcome to this BTC USDT 1DAY chart update by CRYPTOSANDERS.
I have tried to bring the best possible outcome to this chart.
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CHART ANALYSIS:-Bitcoin (BTC) fell for a second straight day, as markets continued to react to the latest U.S. retail sales report.
Following the better-than-expected increase in consumer spending, BTC/USD slipped to a low of $16,430.11 earlier in today’s session.
The drop comes a day after the token was at a high of $16,726.44, but it now seems to be heading for a recent price floor.
Looking at the chart, this support point appears to be at the $16,200 level, which has been the last line of defense prior to the token moving below $16,000 in recent days.
A positive for long-term bulls is that the 10-day (red) moving average looks as though it has somewhat exhausted its downward momentum, with a shift in sentiment potentially in the cards.
Should an upcoming floor of 34.00 on the relative strength index (RSI) hold firm, then we could see BTC bulls begin to buy this current dip.
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) fell for a second straight day, as markets continued to react to the latest U.S. retail sales report.
Following the better-than-expected increase in consumer spending, BTC/USD slipped to a low of $16,430.11 earlier in today’s session.
The drop comes a day after the token was at a high of $16,726.44, but it now seems to be heading for a recent price floor.
Looking at the chart, this support point appears to be at the $16,200 level, which has been the last line of defense prior to the token moving below $16,000 in recent days.
A positive for long-term bulls is that the 10-day (red) moving average looks as though it has somewhat exhausted its downward momentum, with a shift in sentiment potentially in the cards.
Should an upcoming floor of 34.00 on the relative strength index (RSI) hold firm, then we could see BTC bulls begin to buy this current dip.
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
