Hello, welcome to this BITCOIN /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Bitcoin ( BTC ) remained near a five-month high on Monday, following a strong rally towards $24,000 over the weekend.
Following a high of $23,919.89 on Sunday, BTC/USD fell to a low of $23,166.83 to start the week.
Sunday’s surge saw BTC bulls push prices to their strongest point since August 26, however, these same traders have already begun to retreat.
Looking at the chart, the decline commenced following a failed breakout of a ceiling at 85.00 on the 14-day relative strength index (RSI).
As of writing, the index is now tracking at 72.19, with a floor at 65.00 the only current visible target for bears.
Should this zone be hit, it is highly likely that BTC will be trading close to a support point at $22,500.
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 ) remained near a five-month high on Monday, following a strong rally towards $24,000 over the weekend.
Following a high of $23,919.89 on Sunday, BTC/USD fell to a low of $23,166.83 to start the week.
Sunday’s surge saw BTC bulls push prices to their strongest point since August 26, however, these same traders have already begun to retreat.
Looking at the chart, the decline commenced following a failed breakout of a ceiling at 85.00 on the 14-day relative strength index (RSI).
As of writing, the index is now tracking at 72.19, with a floor at 65.00 the only current visible target for bears.
Should this zone be hit, it is highly likely that BTC will be trading close to a support point at $22,500.
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
