Hello, welcome to this BITCOIN /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Bitcoin ( BTC ) turned lower in today's session as markets reacted to news that the US manufacturing sector remained in contraction territory.
In its monthly report, the ISM's Manufacturing Index came in at 47.7, and generally, any reading below 50.00 indicates a contraction.
As a result, BTC/USD slipped to a one-day low of $23,374.66, a day after trading at a high of $23,821.15.
The decline occurred as bitcoin bulls were unable to sustain a breakout above the $23,800 resistance.
Additionally, the 14-day Relative Strength Index (RSI) also declined after a failed breakout of the ceiling at 55.00.
Price strength is tracking at 51.32, which is close to the long-term floor at 50.00.
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 ) turned lower in today's session as markets reacted to news that the US manufacturing sector remained in contraction territory.
In its monthly report, the ISM's Manufacturing Index came in at 47.7, and generally, any reading below 50.00 indicates a contraction.
As a result, BTC/USD slipped to a one-day low of $23,374.66, a day after trading at a high of $23,821.15.
The decline occurred as bitcoin bulls were unable to sustain a breakout above the $23,800 resistance.
Additionally, the 14-day Relative Strength Index (RSI) also declined after a failed breakout of the ceiling at 55.00.
Price strength is tracking at 51.32, which is close to the long-term floor at 50.00.
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.
