Hello, welcome to this BTC /USD 1DAY chart update by CRYPTO SANDERS.
I have tried to bring the best possible outcome to this chart.
CHART ANALYSIS:- Bitcoin (BTC) consolidated to start the week, as the price failed to break out of a key resistance level.
After hitting a high of $21,345.25 on Sunday, BTC/USD declined to a low of $20,681.98 earlier in today's session.
The decline comes as the world's largest cryptocurrency was unable to move above its long-term range of $21,400.
Looking at the charts, this was somewhat expected, as the 14-day Relative Strength Index (RSI) was hovering in overbought territory.
The price strength is currently tracking at 86.65 after failing to move north of the 90.00 mark.
It is likely that further downside could be on the cards this week, with the floor of $20,000 a potential target for sellers.
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) consolidated to start the week, as the price failed to break out of a key resistance level.
After hitting a high of $21,345.25 on Sunday, BTC/USD declined to a low of $20,681.98 earlier in today's session.
The decline comes as the world's largest cryptocurrency was unable to move above its long-term range of $21,400.
Looking at the charts, this was somewhat expected, as the 14-day Relative Strength Index (RSI) was hovering in overbought territory.
The price strength is currently tracking at 86.65 after failing to move north of the 90.00 mark.
It is likely that further downside could be on the cards this week, with the floor of $20,000 a potential target for sellers.
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
