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) 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.
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) 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.
Hit the like button if you like it and share your charts in the comments section.
Thank you
