Hello, welcome to this BITCOIN /USD update by CRYPTO SANDERS.
CHART ANALYSIS:- Bitcoin (BTC) is on the brink of registering a downward crossover of its 10-day (red) and 25-day (blue) moving averages. A recent downtrend, which today pushed BTC/USD to an intraday low of 27,192.03, has also led to an overall shift in market momentum. This latest low in Bitcoin comes less than a day after the world’s largest cryptocurrency traded at a high of 27,979.98. Overall, BTC is trading over 7% lower than at the same point last week, when the price was above 30,000. In addition to the potential crossover of moving averages, the 14-day relative strength index (RSI) continues to hover close to a floor at 42.00. At the time of writing, the index is tracking at 44.11, with BTC trading at 27,550.00.
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