Hello friends, welcome to this BITCOIN update from Crypto Sanders.
Chart Analysis:- Bitcoin (BTC) edged below the 28,000 level during today’s session, as traders moved to secure Monday’s gains.
After surging to a peak of 28,494 to start the month of October, BTC/USD slipped to a low of 27,374 earlier in the day.
The decline came after the cryptocurrency climbed to its highest level since August 17, however, this momentum was also its downfall.
This was owing to the fact that Monday’s move pushed the 14-day relative strength index (RSI) above the 70.00 level, and into overbought positions.
price strength is now tracking at 59.93, which is marginally above a support point of 57.00.
In the event that this aforementioned floor is broken, there is a good chance that BTC could slip below $27,000 in the coming days.
I have tried to bring the best possible results in this chart.
If you like it, hit the like button and share your charts in the comments section.
Thank you.
Chart Analysis:- Bitcoin (BTC) edged below the 28,000 level during today’s session, as traders moved to secure Monday’s gains.
After surging to a peak of 28,494 to start the month of October, BTC/USD slipped to a low of 27,374 earlier in the day.
The decline came after the cryptocurrency climbed to its highest level since August 17, however, this momentum was also its downfall.
This was owing to the fact that Monday’s move pushed the 14-day relative strength index (RSI) above the 70.00 level, and into overbought positions.
price strength is now tracking at 59.93, which is marginally above a support point of 57.00.
In the event that this aforementioned floor is broken, there is a good chance that BTC could slip below $27,000 in the coming days.
I have tried to bring the best possible results in this chart.
If you like it, hit the like button and share your charts in the comments section.
Thank you.
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