hello, welcome to this BTC/USDT update by CRYPTO SANDERS.
CHART ANALYSIS:- Bitcoin (BTC) gave up recent gains on Thursday, as markets reacted to the latest U.S. inflation report.
BTC/USD dropped to an intraday low of 29,376.80 earlier in today’s session, following a peak at 30,093.44 the day prior.
The decline sees Bitcoin retreat from its highest level since July 20, when the price peaked at a level of 30,421.
One of the reasons for the drop appears to be the 14-day relative strength index (RSI) falling below a recent ceiling of 51.00
the index is now tracking at a reading of 50.51, with a floor of 41.00 the next visible target.
In the event that price strength reaches this level, there is a good chance that BTC will fall below the 29,000 mark.
I have tried to bring the best possible outcome to this chart.
Hit the like button if you like it and share your charts in the comments section.
Thank you
CHART ANALYSIS:- Bitcoin (BTC) gave up recent gains on Thursday, as markets reacted to the latest U.S. inflation report.
BTC/USD dropped to an intraday low of 29,376.80 earlier in today’s session, following a peak at 30,093.44 the day prior.
The decline sees Bitcoin retreat from its highest level since July 20, when the price peaked at a level of 30,421.
One of the reasons for the drop appears to be the 14-day relative strength index (RSI) falling below a recent ceiling of 51.00
the index is now tracking at a reading of 50.51, with a floor of 41.00 the next visible target.
In the event that price strength reaches this level, there is a good chance that BTC will fall below the 29,000 mark.
I have tried to bring the best possible outcome to this chart.
Hit the like button if you like it and share your charts in the comments section.
Thank you
