Hello friends, welcome to this BITCOIN update from Crypto Sanders.
Chart Analysis:- Bitcoin once again fell below the 35,000 level on Thursday, after a brief stint above this level on Wednesday.
Following a high of 35,133.76 late in yesterday’s session, BTC/USD dropped to an intraday low of 34,151.88 earlier today.
The move saw bitcoin continue to trade close to its strongest point since May 2022, when the price was over 37,000.
bitcoin is now trading at 33,990.55, which comes as the relative strength index (RSI) failed to penetrate the 90.00 zone.
the index is at a reading of 82.99, which remains significantly overbought in the medium term.
Should sentiment begin to truly shift bearish, a floor at 31,000 is the likely target for bears in the market.
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 once again fell below the 35,000 level on Thursday, after a brief stint above this level on Wednesday.
Following a high of 35,133.76 late in yesterday’s session, BTC/USD dropped to an intraday low of 34,151.88 earlier today.
The move saw bitcoin continue to trade close to its strongest point since May 2022, when the price was over 37,000.
bitcoin is now trading at 33,990.55, which comes as the relative strength index (RSI) failed to penetrate the 90.00 zone.
the index is at a reading of 82.99, which remains significantly overbought in the medium term.
Should sentiment begin to truly shift bearish, a floor at 31,000 is the likely target for bears in the market.
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.
