Hello, welcome to this BITCOIN /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Bitcoin ( BTC ) rose towards $29,000 on Saturday, as markets continued to react to yesterday’s consumption expenditure (PCE) figures in the United States.
PCE climbed to 0.3% in March, less than the 0.4% markets were expecting, showing that inflation was slowing.
BTC/USD rose to an intraday high of $28,802.46 earlier in today’s session, which comes a day after trading at a low of $27,854.63.
Looking at the chart, the move saw BTC briefly breakout of a long-term resistance level of $28,500.
Earlier gains have since declined, which comes as the 14-day relative strength index (RSI) failed to move beyond a ceiling at 65.00.
As of writing this, the index is now tracking at 63.65, with a floor of 62.00 a possible target for sellers.
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 ) rose towards $29,000 on Saturday, as markets continued to react to yesterday’s consumption expenditure (PCE) figures in the United States.
PCE climbed to 0.3% in March, less than the 0.4% markets were expecting, showing that inflation was slowing.
BTC/USD rose to an intraday high of $28,802.46 earlier in today’s session, which comes a day after trading at a low of $27,854.63.
Looking at the chart, the move saw BTC briefly breakout of a long-term resistance level of $28,500.
Earlier gains have since declined, which comes as the 14-day relative strength index (RSI) failed to move beyond a ceiling at 65.00.
As of writing this, the index is now tracking at 63.65, with a floor of 62.00 a possible target for sellers.
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.
