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) surged for the sixth straight session to start the weekend, as the price moved above the $21,000 level.
BTC/USD climbed to a peak of $21,054.38 earlier in today's session, which comes after the price hit a low of $18,793.66 on Friday.
This jump in price saw bitcoin add up to 10% to its value over the past 24 hours, reaching its strongest point since November 5th in the process.
Looking at the charts, the rally came as the 14-day Relative Strength Index (RSI) continued to rally. It is now tracking at 89.22.
Typically, a reading of 70.00 is seen as overbought, and with this print, which is its highest point in two years, we are deep in bear territory.
When the price moves higher, many expect bearish sentiment to increase, as traders begin shorting the market.
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) surged for the sixth straight session to start the weekend, as the price moved above the $21,000 level.
BTC/USD climbed to a peak of $21,054.38 earlier in today's session, which comes after the price hit a low of $18,793.66 on Friday.
This jump in price saw bitcoin add up to 10% to its value over the past 24 hours, reaching its strongest point since November 5th in the process.
Looking at the charts, the rally came as the 14-day Relative Strength Index (RSI) continued to rally. It is now tracking at 89.22.
Typically, a reading of 70.00 is seen as overbought, and with this print, which is its highest point in two years, we are deep in bear territory.
When the price moves higher, many expect bearish sentiment to increase, as traders begin shorting the market.
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
