Hello, welcome to this BTC /USD 1DAY chart update by CRYPTOSANDERS.
I have tried to bring the best possible outcome to this chart.
CHART ANALYSIS:-Bitcoin (BTC) fell below $17,000 in today’s session, as markets continued to react to last month’s retail sales data.
As retail sales in the United States disappointed, BTC/USD slipped to an intraday low of $16,997.54 earlier in the day.
This comes less than a day after prices were nearing a breakout of $18,000, hitting a peak of $17,725.88 in the process.
Looking at the chart, bearish pressure intensified following a breakout of a floor at $17,200, with the price now trading at $17,023.22.
This slight reversal comes as the 14-day relative strength index (RSI) moved close to a support point of 45.00.
The index is currently tracking at the 47.05 level, and should price strength hit the aforementioned floor, BTC could land at $16,800.
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) fell below $17,000 in today’s session, as markets continued to react to last month’s retail sales data.
As retail sales in the United States disappointed, BTC/USD slipped to an intraday low of $16,997.54 earlier in the day.
This comes less than a day after prices were nearing a breakout of $18,000, hitting a peak of $17,725.88 in the process.
Looking at the chart, bearish pressure intensified following a breakout of a floor at $17,200, with the price now trading at $17,023.22.
This slight reversal comes as the 14-day relative strength index (RSI) moved close to a support point of 45.00.
The index is currently tracking at the 47.05 level, and should price strength hit the aforementioned floor, BTC could land at $16,800.
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
