Hello, welcome to this BTC /USDT 1DAY chart update by CRYPTOSANDERS.
I have tried to bring the best possible outcome to this chart.
CHART ANALYSIS:-Bitcoin (BTC) snapped a five-day losing streak on Tuesday, as prices moved away from a recent point of support.
Following a low of $16,054.53 to start the week, BTC/USD surged to an intraday high of $16,522.26 earlier today.
This surge saw bitcoin climb from its aforementioned price floor of $16,175, which has been in play since early November.
Looking at the chart, although prices have surged, it will be a test to see if this momentum can be maintained, due to the relative strength index (RSI) colliding with a ceiling.
As of writing, the index is hovering marginally above a ceiling of 41.00, with a current reading of 41.12.
Should price strength continue upward, we could see more bulls entering the market, taking BTC closer to $17,000.
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.
CHART ANALYSIS:-Bitcoin (BTC) snapped a five-day losing streak on Tuesday, as prices moved away from a recent point of support.
Following a low of $16,054.53 to start the week, BTC/USD surged to an intraday high of $16,522.26 earlier today.
This surge saw bitcoin climb from its aforementioned price floor of $16,175, which has been in play since early November.
Looking at the chart, although prices have surged, it will be a test to see if this momentum can be maintained, due to the relative strength index (RSI) colliding with a ceiling.
As of writing, the index is hovering marginally above a ceiling of 41.00, with a current reading of 41.12.
Should price strength continue upward, we could see more bulls entering the market, taking BTC closer to $17,000.
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
