BINANCE:BTCUSDT   Bitcoin / TetherUS
Hello, welcome to this BTC/USDT 1DAY chart update by CRYPTOSANDERS.

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CHART ANALYSIS:-Bitcoin (BTC) was once again trading lower to start the weekend, as the token moved back towards a recent price floor.

BTC/USD fell to an intraday low of $16,564.61 in today’s session, which comes less than a day after hitting a high of $16,795.20.

The move sees BTC move closer to this week’s support point of $16,000, which has been in place since the FTX collapse.

Looking at the chart, today’s drop in price comes as a hurdle was hit on the 14-day relative strength index (RSI).

This wall of 38.00 on the indicator has seemingly prevented bulls from recapturing the $17,000 mark, and in turn, opened the door to a bearish reentry.

Should Saturday’s bearish momentum continue to intensify throughout the course of the weekend, BTC will likely edge closer to $16,000.

This is not a piece of financial advice.
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